XPLR Infrastructure (NYSE:XIFR) Stock Price Down 8.9% After Earnings Miss

XPLR Infrastructure, LP (NYSE:XIFR) shares traded down 8.9% on Wednesday following a dissappointing earnings announcement. The company traded as low as $8.68 and last traded at $8.7040. 1,036,050 shares traded hands during trading, a decline of 47% from the average session volume of 1,963,073 shares. The stock had previously closed at $9.55.

The solar energy provider reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). The company had revenue of $315.00 million for the quarter, compared to analyst estimates of $331.56 million. XPLR Infrastructure had a positive return on equity of 1.86% and a negative net margin of 12.94%.XPLR Infrastructure’s quarterly revenue was down 1.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen raised XPLR Infrastructure from a “sell” rating to a “hold” rating in a research note on Monday. CIBC upped their price target on XPLR Infrastructure from $11.00 to $11.50 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Barclays upped their target price on XPLR Infrastructure from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d)” rating on shares of XPLR Infrastructure in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price objective on XPLR Infrastructure from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $13.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XIFR. Searle & CO. purchased a new stake in shares of XPLR Infrastructure during the third quarter worth about $387,000. AlphaQuest LLC acquired a new stake in XPLR Infrastructure in the third quarter worth approximately $823,000. Everett Harris & Co. CA acquired a new stake in XPLR Infrastructure in the third quarter worth approximately $310,000. Corrado Advisors LLC acquired a new stake in shares of XPLR Infrastructure during the 3rd quarter valued at $331,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of XPLR Infrastructure during the 3rd quarter valued at $1,299,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

XPLR Infrastructure Stock Performance

The firm’s 50 day simple moving average is $10.22 and its 200-day simple moving average is $9.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.72 and a current ratio of 0.77. The company has a market capitalization of $826.47 million, a price-to-earnings ratio of -5.06 and a beta of 0.94.

XPLR Infrastructure Company Profile

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.