Nextracker Inc [NXT] Stock trading around $41.99 per share: What’s Next?

Nextracker Inc [NASDAQ: NXT] plunged by -$0.13 during the normal trading session on Friday and reaching a high of $43.40 during the day while it closed the day at $41.99. The company report on January 3, 2024 at 5:00 AM that Bright Horizons: Top Solar Stocks for 2024.

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Nextracker Inc stock has also loss -11.51% of its value over the past 7 days. However, NXT stock has inclined by 27.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.30% and lost -10.37% year-on date.

The market cap for NXT stock reached $2.61 billion, with 62.10 million shares outstanding and 48.24 million shares in the current float. Compared to the average trading volume of 2.35M shares, NXT reached a trading volume of 22943516 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Nextracker Inc [NXT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NXT shares is $52.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NXT stock is a recommendation set at 1.45. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Nextracker Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 19, 2023.

The Average True Range (ATR) for Nextracker Inc is set at 2.38, with the Price to Sales ratio for NXT stock in the period of the last 12 months amounting to 1.25. Price to Free Cash Flow for NXT in the course of the last twelve months was 8.56 with Quick ratio for the last quarter at 1.35.

NXT stock trade performance evaluation

Nextracker Inc [NXT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.51. With this latest performance, NXT shares dropped by -0.10% in over the last four-week period, additionally plugging by 10.30% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NXT stock in for the last two-week period is set at 43.01, with the RSI for the last a single of trading hit 34.16, and the three-weeks RSI is set at 47.50 for Nextracker Inc [NXT]. The present Moving Average for the last 50 days of trading for this stock 40.81, while it was recorded at 44.96 for the last single week of trading, and 38.65 for the last 200 days.

Nextracker Inc [NXT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Nextracker Inc [NXT] shares currently have an operating margin of +8.86 and a Gross Margin at +15.04. Nextracker Inc’s Net Margin is presently recorded at +0.06.

Reflecting on the efficiency of the workforce at the company, Nextracker Inc [NXT] managed to generate an average of $1,886 per employee. Receivables Turnover for the company is 3.69 with a Total Asset Turnover recorded at a value of 1.56.Nextracker Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.35 and a Current Ratio set at 1.73.

Earnings per share (EPS) analysis for Nextracker Inc [NXT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NXT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nextracker Inc go to 37.30%.

Nextracker Inc [NXT]: Institutional Ownership

The top three institutional holders of NXT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NXT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NXT stock with ownership which is approximately 5.8325%.