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Nextracker (NXT-Q)
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This summary was created by AI, based on 4 opinions in the last 12 months.
Nextracker (NXT-Q) is a global provider of solar panel monitoring technology with strong fundamentals and growth potential. The company has a significant order backlog, growing cash reserves, and aggressive share buybacks. It enjoys a duopoly in its sector and has reported strong earnings and revenue growth. The renewable energy sector struggles have not impacted Nextracker, as it continues to experience high demand and has successfully raised its guidance. The company is well-positioned to benefit from infrastructure spending and tax credits over the next two years, making it a potential strong investment for the future.
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We would attribute a lot of the weakness simply to investor boredom and digesting recent gains. In the short-term, NXT can trade in sympathy to interest rate expectations, with rates impacting feasibility of solar projects, so there might be some sentiment around rates weighing on shares. Overall though, the fundamentals remain strong as does the growth and tax credits/infrastructure spending over the next two years should act as a support for demand of their products.
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The global provider of solar panel monitoring technology has over $2 billion in order backlogs. It trades at 28x earnings and supports a 43% ROE. We like that cash reserves are growing, while shares are aggressively bought back and debt is reduced. We recommend setting a stop-loss at $44, looking to achieve $65 -- upside potential of 22%. Yield 0%
(Analysts’ price target is $64.88)Is the #1 global supplier of solar trackers. It will do great if interest rates decline and the solar complex rebounds. They just reported a terrific quarter and hikes their full-year earnings forecast. Shares soared after the report, but is still worth owning.
One of the most successful IPOs last year and has generally climbed since its debut. They make solar tracker systems so that solar panels rotate to follow the sun and maximize power generation. NXT enjoy a duopoly in its sector. The Inflation Reduction Act is a tailwind. As the renewable sector has struggled, NXT keeps reporting good earnings and raising its guidance. When NXT bottomed in mid-January, it was a buying opportunity. Then, it announced a monster 38% revenue growth and boosted full-year guidance. Enjoying a ton of demand. Their US business grew 70% YOY; energy demand is forecast to grow in coming years as legacy power generation facilities retire. Trades at a cheap 19x 2025 PE.
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Nextracker(NXT-Q) Rating
Ranking : 4 out of 5
Bullish - Buy Signals / Votes : 4
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 0
Total Signals / Votes : 4
Nextracker(NXT-Q) Frequently Asked Questions
What is Nextracker stock symbol?
Nextracker is a OTC stock, trading under the symbol NXT-Q on the (). It is usually referred to as or NXT-Q
Is Nextracker a buy or a sell?
In the last year, 4 stock analysts published opinions about NXT-Q. 4 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Nextracker.
Is Nextracker a good investment or a top pick?
Nextracker was recommended as a Top Pick by on . Read the latest stock experts ratings for Nextracker.
Why is Nextracker stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Nextracker worth watching?
In the last year, there was no coverage of Nextracker published on Stockchase.
What is Nextracker stock price?
On , Nextracker (NXT-Q) stock closed at a price of $.
Our PAST TOP PICK with NXT has triggered its stop at $44. To remain disciplined, we recommend covering the position at this time.