Nextracker (NXT) Stock Price, News & Analysis

22 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Nextracker in the last twelve months. There are currently 3 hold ratings and 19 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" NXT shares.
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22 Wall Street analysts have issued 1-year target prices for Nextracker's stock. Their NXT share price targets range from $43.00 to $73.00. On average, they predict the company's stock price to reach $59.41 in the next year. This suggests a possible upside of 34.4% from the stock's current price.
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Nextracker's stock was trading at $46.85 at the beginning of 2024. Since then, NXT shares have decreased by 5.6% and is now trading at $44.21.
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Nextracker saw a increase in short interest in the month of March. As of March 31st, there was short interest totaling 9,820,000 shares, an increase of 27.2% from the March 15th total of 7,720,000 shares. Based on an average trading volume of 4,120,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 7.6% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024.
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Nextracker will be holding an earnings conference call on Tuesday, May 14th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

Nextracker Inc. (NASDAQ:NXT) issued its earnings results on Wednesday, January, 31st. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.51. The company earned $710.43 million during the quarter, compared to analyst estimates of $615.53 million. Nextracker had a negative trailing twelve-month return on equity of 5.98% and a net margin of 4.48%.

ETFs with the largest weight of Nextracker (NASDAQ:NXT) stock in their portfolio include Invesco Solar ETF (TAN), ALPS Clean Energy ETF (ACES), ProShares S&P Kensho Cleantech ETF (CTEX), First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN), SPDR S&P Kensho Clean Power ETF (CNRG), Virtus Duff & Phelps Clean Energy ETF (VCLN), Global X Solar ETF (RAYS) and Neuberger Berman Disrupters ETF (NBDS).

Nextracker updated its FY 2024 earnings guidance on Wednesday, January, 31st. The company provided earnings per share (EPS) guidance of 2.550-2.750 for the period, compared to the consensus estimate of 2.120. The company issued revenue guidance of $2.4 billion-$2.5 billion, compared to the consensus revenue estimate of $2.3 billion.

Nextracker (NXT) raised $501 million in an initial public offering 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.

Nextracker's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Allspring Global Investments Holdings LLC (0.33%), Renaissance Capital LLC (0.06%), Artemis Investment Management LLP (0.06%), Hodges Capital Management Inc. (0.04%), IMC Chicago LLC (0.00%) and Graybill Wealth Management LTD. (0.02%). Insiders that own company stock include Leah Schlesinger, Nicholas Marco Miller and Tpg Gp A, Llc.
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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.
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