Nextracker (NXT) Projected to Post Earnings on Tuesday

Nextracker (NASDAQ:NXT) is anticipated to release its earnings data after the market closes on Tuesday, January 28th. Analysts expect Nextracker to post earnings of $0.58 per share and revenue of $647,776.38 billion for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Nextracker Stock Performance

NASDAQ NXT opened at $41.00 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The company has a market cap of $5.97 billion, a P/E ratio of 10.22 and a beta of 2.04. The stock has a 50-day moving average of $38.86 and a two-hundred day moving average of $39.23. Nextracker has a 1-year low of $30.93 and a 1-year high of $62.31.

Insider Buying and Selling at Nextracker

In other news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the sale, the president now directly owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This represents 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. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NXT shares. Truist Financial increased their target price on shares of Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America lowered their price objective on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Northland Securities reiterated an “outperform” rating and set a $48.00 price target on shares of Nextracker in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group reduced their price objective on shares of Nextracker from $63.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.10.

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.