Nextracker (NXT) to Release Quarterly Earnings on Tuesday

Nextracker (NASDAQ:NXT) is expected to issue its quarterly earnings data after the market closes on Tuesday, January 28th. Analysts expect the company to announce earnings of $0.58 per share and revenue of $647,776.38 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Nextracker Price Performance

NXT stock opened at $41.00 on Monday. The company’s 50-day moving average price is $38.86 and its two-hundred day moving average price is $39.16. Nextracker has a 12 month low of $30.93 and a 12 month high of $62.31. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.97 billion, a P/E ratio of 10.22 and a beta of 2.04.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NXT shares. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Nextracker in a research note on Friday, November 22nd. Wells Fargo & Company dropped their price objective on Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Citigroup decreased their target price on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird dropped their target price on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Susquehanna reduced their price target on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.10.

Insider Transactions at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the sale, the president now owns 209,365 shares in the company, valued at $9,421,425. This represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

About Nextracker

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.