Nextracker (NXT) Projected to Post Earnings on Tuesday

Nextracker (NASDAQ:NXT) is anticipated to post its quarterly earnings results 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 listening to the company’s earnings conference call can do so using this link.

Nextracker Price Performance

NASDAQ:NXT opened at $44.19 on Tuesday. The stock has a market capitalization of $6.43 billion, a PE ratio of 11.02 and a beta of 2.04. Nextracker has a 1-year low of $30.93 and a 1-year high of $62.31. The firm has a fifty day simple moving average of $38.47 and a 200 day simple moving average of $39.29. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NXT shares. Guggenheim restated a “buy” rating and set a $55.00 price objective on shares of Nextracker in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered their price target on Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Citigroup cut their price objective on Nextracker from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Susquehanna decreased their target price on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Finally, Northland Capmk upgraded Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.10.

Insider Activity at Nextracker

In other Nextracker news, President Howard Wenger sold 6,066 shares of Nextracker 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 transaction, the president now directly owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Nextracker Company 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.