XPLR Infrastructure (NYSE:XIFR) Trading 7.6% Higher on Better-Than-Expected Earnings

XPLR Infrastructure, LP (NYSE:XIFR) shares were up 7.6% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $10.97 and last traded at $10.9560. Approximately 599,216 shares changed 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 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.87. XPLR Infrastructure had a positive return on equity of 2.01% and a negative net margin of 12.73%.The business had revenue of $249.00 million during the quarter. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on XIFR shares. Barclays decreased their price objective on shares of XPLR Infrastructure from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, November 6th. Morgan Stanley decreased their price target on XPLR Infrastructure from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of XPLR Infrastructure in a research note on Wednesday, January 21st. Wall Street Zen downgraded XPLR Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Royal Bank Of Canada assumed coverage on shares of XPLR Infrastructure in a research note on Tuesday, January 6th. They issued an “outperform” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $12.25.

Hedge Funds Weigh In On XPLR Infrastructure

Several large investors have recently bought and sold shares of XIFR. Ensign Peak Advisors Inc acquired a new stake in XPLR Infrastructure in the 2nd quarter worth $256,000. Dynamic Technology Lab Private Ltd acquired a new stake in XPLR Infrastructure during the second quarter worth about $256,000. Swiss National Bank bought a new position in XPLR Infrastructure during the second quarter valued at about $1,465,000. JPMorgan Chase & Co. acquired a new position in XPLR Infrastructure in the 2nd quarter valued at approximately $55,000. Finally, MAI Capital Management bought a new stake in shares of XPLR Infrastructure in the 2nd quarter worth approximately $94,000. 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 -6.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.69 and a current ratio of 0.75. The stock has a 50-day simple moving average of $9.72 and a 200 day simple moving average of $9.84.

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.