XPLR Infrastructure (NYSE:XIFR) Shares Up 7.6% on Strong Earnings

Shares of XPLR Infrastructure, LP (NYSE:XIFR) rose 7.6% on Tuesday following a better than expected earnings announcement. The company traded as high as $10.97 and last traded at $10.9560. Approximately 599,216 shares traded hands during trading, a decline of 62% from the average daily volume of 1,566,189 shares. The stock had previously closed at $10.18.

The solar energy provider reported $0.30 EPS for the quarter, topping the consensus estimate of ($0.57) by $0.87. XPLR Infrastructure had a negative net margin of 12.73% and a positive return on equity of 2.01%. The firm had revenue of $249.00 million for the quarter. XPLR Infrastructure’s revenue for the quarter was down 15.3% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered XPLR Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Barclays reduced their price objective on shares of XPLR Infrastructure from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, November 6th. Morgan Stanley lowered their target price on shares of XPLR Infrastructure from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of XPLR Infrastructure in a report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of XPLR Infrastructure from $11.00 to $11.50 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $12.25.

Institutional Trading of XPLR Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. acquired a new position in shares of XPLR Infrastructure during the second quarter valued at about $46,948,000. Apollo Management Holdings L.P. acquired a new stake in XPLR Infrastructure during the second quarter worth about $40,853,000. Anchorage Capital Advisors L.P. bought a new position in XPLR Infrastructure during the third quarter valued at about $33,443,000. ING Groep NV acquired a new position in XPLR Infrastructure in the 3rd quarter valued at approximately $20,340,000. Finally, MUFG Securities EMEA plc acquired a new position in XPLR Infrastructure in the 2nd quarter valued at approximately $16,400,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

XPLR Infrastructure Price Performance

The company has a market cap of $1.04 billion, a P/E ratio of -6.56 and a beta of 1.02. The stock has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $9.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.69 and a current ratio of 0.75.

About XPLR Infrastructure

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.