Nextracker (NASDAQ:NXT) Announces Earnings Results, Beats Expectations By $0.31 EPS

Nextracker (NASDAQ:NXT) posted its quarterly earnings data on Tuesday. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.58 by $0.31, Zacks reports. Nextracker had a net margin of 17.26% and a return on equity of 559.17%.

Nextracker Stock Down 0.0 %

NXT stock traded down $0.01 during midday trading on Tuesday, reaching $39.62. 4,655,819 shares of the company were exchanged, compared to its average volume of 2,888,277. Nextracker has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 9.88 and a beta of 2.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. The stock’s 50-day simple moving average is $38.90 and its 200 day simple moving average is $39.02.

Analysts Set New Price Targets

NXT has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Northland Capmk raised Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Susquehanna lowered their price objective on Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets reduced their target price on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Finally, Piper Sandler reduced their price target on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nextracker currently has an average rating of “Moderate Buy” and an average target price of $53.10.

Insider Transactions at Nextracker

In other news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total value of $272,970.00. Following the transaction, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

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.