Nextracker (NXT) Stock Price, News & Analysis

Company Overview

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. It also provides TrueCapture, a self-adjusting tracker control system, which boosts solar power plant production by optimizing the position of individual tracker row in response to site features, such as varying topography and changing weather conditions; and NX Navigator, that assists solar power plant owners and operators in monitoring, controlling, and protecting their solar projects. The company was founded in 2013 and is headquartered in Fremont, California. As of March 31, 2024 Nextracker Inc. was formerly a subsidiary of Flex Ltd.

Key Stats

• Today's Range: $35.86 to $36.95
• 50-Day Range: $33.08 to $49.14
• 52-Week Range: $32.14 to $62.31
• Volume: 11.22 million shs
• Average Volume: 3.93 million shs
• Market Capitalization: $5.32 billion
• P/E Ratio: 10.91
• Dividend Yield: N/A
• Price Target: $57.91
• Consensus Rating: Moderate Buy

Nextracker Stock Analysis - MarketRank™

Nextracker scored higher than 94% of companies evaluated by MarketBeat, and ranked 29th out of 250 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Nextracker has received a consensus rating of Moderate Buy. The company's average rating score is 2.78, and is based on 18 buy ratings, 5 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Nextracker has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 20.62%

Earnings Growth

Earnings for Nextracker are expected to grow by 20.62% in the coming year, from $2.57 to $3.10 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Nextracker is 10.91, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 134.27.

Price to Earnings Ratio vs. Sector

The P/E ratio of Nextracker is 10.91, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 12.04.

Price to Earnings Growth Ratio

Nextracker has a PEG Ratio of 5.16. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Nextracker has a P/B Ratio of 5.34. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

6.75% of the float of Nextracker has been sold short.

Short Interest Ratio / Days to Cover

Nextracker has a short interest ratio ("days to cover") of 2.6, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Nextracker has recently decreased by 5.16%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Nextracker does not currently pay a dividend.

Dividend Growth

Nextracker does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

6.75% of the float of Nextracker has been sold short.

Short Interest Ratio / Days to Cover

Nextracker has a short interest ratio ("days to cover") of 2.6, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Nextracker has recently decreased by 5.16%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.3 / 5
• News Sentiment: 0.99

News Sentiment

Nextracker has a news sentiment score of 0.99. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.56 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 7 news articles for Nextracker this week, compared to 6 articles on an average week.

Search Interest

Only 31 people have searched for NXT on MarketBeat in the last 30 days. This is a decrease of -23% compared to the previous 30 days.

MarketBeat Follows

13 people have added Nextracker to their MarketBeat watchlist in the last 30 days. This is an increase of 86% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Nextracker insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.27% of the stock of Nextracker is held by insiders.

Percentage Held by Institutions

67.41% of the stock of Nextracker is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

NXT Stock Analysis - Frequently Asked Questions

How have NXT shares performed this year?

Nextracker's stock was trading at $46.85 at the beginning of 2024. Since then, NXT stock has decreased by 21.8% and is now trading at $36.66.
View the best growth stocks for 2024 here.

How were Nextracker's earnings last quarter?

Nextracker Inc. (NASDAQ:NXT) posted its quarterly earnings data on Thursday, August, 1st. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.27. Nextracker's revenue for the quarter was up 50.1% compared to the same quarter last year.

When did Nextracker IPO?

Nextracker (NXT) raised $501 million in an IPO on Thursday, February 9th 2023. The company issued 23,300,000 shares at a price of $20.00-$23.00 per share. J.P. Morgan, BofA Securities, Citigroup, Barclays, Truist Securities, HSBC, BNP PARIBAS, Mizuho, Scotiabank and KeyBanc Capital Markets acted as the underwriters for the IPO.

Who are Nextracker's major shareholders?

Nextracker's top institutional shareholders include Primecap Management Co. CA (5.51%), TPG GP A LLC (2.06%), Victory Capital Management Inc. (1.41%) and Dimensional Fund Advisors LP (1.22%). Insiders that own company stock include Tpg Gp A, Llc, Bruce Ledesma, Leah Schlesinger and Nicholas Marco Miller.
View institutional ownership trends.

How do I buy shares of Nextracker?

Shares of NXT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Company Calendar

• Last Earnings: 8/01/2024
• Today: 9/20/2024
• Next Earnings (Estimated): 10/23/2024
• Fiscal Year End: 3/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Oils/Energy
• Industry: Search & navigation equipment
• Sub-Industry: N/A
• Current Symbol: NASDAQ:NXT
• CUSIP: N/A
• CIK: 1852131
• Web: www.nextracker.com
• Phone: 510-270-2500
• Fax: N/A
• Employees: 1,050
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $57.91
• High Stock Price Target: $71.00
• Low Stock Price Target: $43.00
• Potential Upside/Downside: +60.7%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.78
• Research Coverage: 23 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $3.36
• Trailing P/E Ratio: 10.72
• Forward P/E Ratio: 14.02
• P/E Growth: 5.16
• Net Income: $306.24 million
• Net Margins: 14.87%
• Pretax Margin: 25.08%
• Return on Equity: -36.33%
• Return on Assets: 14.22%

Debt

• Debt-to-Equity Ratio: 0.13
• Current Ratio: 2.11
• Quick Ratio: 1.91

Sales & Book Value

• Annual Sales: $2.74 billion
• Price / Sales: 1.91
• Cash Flow: $2.78 per share
• Price / Cash Flow: 12.97
• Book Value: $6.86 per share
• Price / Book: 5.25

Miscellaneous

• Outstanding Shares: 145,147,000
• Free Float: 144,755,000
• Market Cap: $5.23 billion
• Optionable: Not Optionable
• Beta: 2.47