Murphy & Mullick Capital Management Corp Acquires New Stake in Nextracker Inc. (NASDAQ:NXT)

Murphy & Mullick Capital Management Corp bought a new position in Nextracker Inc. (NASDAQ:NXT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,900 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Quarry LP boosted its position in Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after buying an additional 426 shares during the period. Millstone Evans Group LLC bought a new position in Nextracker in the 4th quarter worth about $48,000. Principal Securities Inc. increased its position in shares of Nextracker by 41.8% during the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after acquiring an additional 410 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Nextracker by 38.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextracker Stock Down 2.1 %

NASDAQ:NXT opened at $42.75 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The company has a market cap of $6.23 billion, a PE ratio of 10.88 and a beta of 2.24. The company’s 50 day moving average is $45.11 and its two-hundred day moving average is $39.99.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. Analysts anticipate that Nextracker Inc. will post 3.29 EPS for the current year.

Insider Activity

In related news, CAO David P. Bennett sold 9,801 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the transaction, the chief accounting officer now directly owns 124,577 shares in the company, valued at $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the sale, the insider now directly owns 132,374 shares in the company, valued at $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,758 shares of company stock valued at $1,217,520. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NXT shares. Barclays raised Nextracker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. Susquehanna raised their price target on Nextracker from $50.00 to $54.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada started coverage on shares of Nextracker in a research note on Monday, March 17th. They issued an “outperform” rating and a $55.00 price objective for the company. UBS Group raised their target price on shares of Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, BNP Paribas upgraded shares of Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.43.

Nextracker Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.