Nextracker (NXT) to Release Earnings on Tuesday

Nextracker (NASDAQ:NXT) is scheduled to 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. Parties interested in registering for the company’s conference call can do so using this link.

Nextracker Stock Up 1.7 %

Shares of NASDAQ NXT opened at $46.89 on Tuesday. The business has a 50-day moving average price of $52.35 and a 200 day moving average price of $47.37. The stock has a market cap of $6.40 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 0.40 and a beta of 2.42. Nextracker has a 52-week low of $30.69 and a 52-week high of $62.14.

Wall Street Analyst Weigh In

NXT has been the topic of a number of research reports. Roth Mkm raised their target price on shares of Nextracker from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Bank of America lifted their price objective on shares of Nextracker from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup upped their target price on shares of Nextracker from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Daiwa Capital Markets began coverage on Nextracker in a report on Monday, April 1st. They set an “outperform” rating and a $63.00 price target on the stock. Finally, Piper Sandler reduced their price objective on Nextracker from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Nextracker presently has an average rating of “Moderate Buy” and an average price target of $58.17.

Insider Buying and Selling

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

Nextracker Company Profile

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.