Roth Capital Predicts Nextracker's Q1 Earnings (NASDAQ:NXT)

Key Points

• Roth Capital has increased its Q1 2027 earnings per share estimate for Nextracker Inc. from $0.79 to $0.90, maintaining a "Buy" rating with a price target of $80.00.
• The consensus estimate for Nextracker's full-year earnings now stands at $3.29 per share, with analysts projecting continued growth in subsequent quarters.
• Institutional ownership remains high, with hedge funds holding approximately 67.41% of the company's stock, bolstered by significant increases in positions from firms like Wellington Management.

Nextracker Inc. (NASDAQ:NXT - Free Report) - Stock analysts at Roth Capital boosted their Q1 2027 earnings per share (EPS) estimates for shares of Nextracker in a note issued to investors on Wednesday, July 30th. Roth Capital analyst P. Shen now anticipates that the company will post earnings per share of $0.90 for the quarter, up from their prior estimate of $0.79. Roth Capital has a "Buy" rating and a $80.00 price objective on the stock. The consensus estimate for Nextracker's current full-year earnings is $3.29 per share. Roth Capital also issued estimates for Nextracker's Q2 2027 earnings at $0.93 EPS, Q3 2027 earnings at $1.11 EPS and Q4 2027 earnings at $1.12 EPS.

Several other equities analysts have also recently weighed in on the stock. Northland Securities reaffirmed a "market perform" rating on shares of Nextracker in a research report on Wednesday. BMO Capital Markets raised their price target on shares of Nextracker from $51.00 to $59.00 and gave the company a "market perform" rating in a research report on Thursday, May 15th. Robert W. Baird raised their price target on shares of Nextracker from $67.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group raised their price target on shares of Nextracker from $61.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, TD Cowen raised their price target on shares of Nextracker from $55.00 to $65.00 and gave the company a "hold" rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.95.

Nextracker Price Performance

Shares of NXT opened at $58.26 on Friday. The stock has a 50-day moving average of $59.93 and a 200-day moving average of $50.00. The company has a market cap of $8.52 billion, a PE ratio of 15.87, a P/E/G ratio of 1.45 and a beta of 2.25. Nextracker has a one year low of $30.93 and a one year high of $67.87.

Insider Activity

In other news, CAO David P. Bennett sold 9,801 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $539,055.00. Following the completion of the transaction, the chief accounting officer directly owned 124,615 shares in the company, valued at $6,853,825. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Howard Wenger sold 6,066 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $333,630.00. Following the transaction, the president owned 219,389 shares of the company's stock, valued at $12,066,395. This trade represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 210,476 shares of company stock valued at $12,169,880 over the last 90 days. Company insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Nextracker by 56.5% in the first quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company's stock worth $220,722,000 after acquiring an additional 1,890,445 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Nextracker in the fourth quarter worth $55,690,000. Invesco Ltd. grew its position in Nextracker by 52.2% in the fourth quarter. Invesco Ltd. now owns 3,874,875 shares of the company's stock worth $141,549,000 after acquiring an additional 1,329,456 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Nextracker in the second quarter worth $58,122,000. Finally, Nuveen LLC purchased a new position in Nextracker in the first quarter worth $40,356,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

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