Nextracker (NXT) to Release Earnings on Tuesday

Nextracker (NASDAQ:NXT) will be announcing its earnings results after the market closes on Tuesday, May 14th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Nextracker Price Performance

Shares of NXT opened at $46.89 on Tuesday. The firm has a 50 day simple moving average of $52.35 and a two-hundred day simple moving average of $47.37. Nextracker has a one year low of $30.69 and a one year high of $62.14. The company has a market cap of $6.40 billion, a P/E ratio of 25.07, a P/E/G ratio of 0.40 and a beta of 2.42.

Insider Activity at Nextracker

In other Nextracker news, COO Nicholas Marco Miller sold 8,355 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $52.67, for a total transaction of $440,057.85. Following the completion of the sale, the chief operating officer now directly owns 11,114 shares in the company, valued at approximately $585,374.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Leah Schlesinger sold 2,149 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total transaction of $111,554.59. Following the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at $618,248.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Nicholas Marco Miller sold 8,355 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $52.67, for a total transaction of $440,057.85. Following the transaction, the chief operating officer now directly owns 11,114 shares in the company, valued at approximately $585,374.38. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NXT has been the subject of several recent analyst reports. Piper Sandler dropped their price objective on Nextracker from $66.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Scotiabank reduced their price target on shares of Nextracker from $55.00 to $50.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Truist Financial upped their price objective on shares of Nextracker from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. BMO Capital Markets began coverage on shares of Nextracker in a research note on Friday, March 22nd. They issued a “market perform” rating and a $69.00 price objective for the company. Finally, Bank of America boosted their target price on shares of Nextracker from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Nextracker presently has an average rating of “Moderate Buy” and an average target price of $58.17.

About Nextracker

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.