Nextracker (NXT) Expected to Announce Earnings on Tuesday

Nextracker (NASDAQ:NXT) will likely be issuing 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. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Nextracker Trading Down 2.1 %

Shares of Nextracker stock opened at $41.00 on Monday. Nextracker has a 1 year low of $30.93 and a 1 year high of $62.31. The company’s fifty day simple moving average is $38.86 and its 200-day simple moving average is $39.16. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 10.22 and a beta of 2.04. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.

Analysts Set New Price Targets

A number of research firms recently weighed in on NXT. JPMorgan Chase & Co. dropped their price target on Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. BMO Capital Markets cut their price target on Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Bank of America decreased their price objective on shares of Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays decreased their price target on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.10.

Insider Buying and Selling at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

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.