Nextracker Inc [NASDAQ: NXT] stock went on an upward path that rose over 0.65% on Wednesday, amounting to a one-week price increase of more than 3.52%. The company report on March 13, 2024 at 10:00 PM that Nextracker and Orrcon Steel to Deliver Sovereign Capability in Australia.
The first project scheduled to receive delivery of Australian made steel components from the facility is ACCIONA Energia’s 480MWp Aldoga Solar Farm to be built near Gladstone.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Nextracker (Nasdaq: NXT), a global market leader of solar tracker and software solutions, and Orrcon Steel, a leading Australian manufacturer of tube and pipe, and distributor of steel products and wholly owned business of BlueScope Steel (ASX:BSL), announced an agreement today to manufacture and deliver Australian made critical components for Nextracker’s smart solar tracker used on distributed generation and utility-scale solar farms. The first project scheduled to receive delivery of Australian made steel components from the facility is ACCIONA Energia’s 480MWp Aldoga Solar Farm to be built near Gladstone.
Over the last 12 months, NXT stock rose by 92.19%. The one-year Nextracker Inc stock forecast points to a potential upside of 5.23. The average equity rating for NXT stock is currently 1.41, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.27 billion, with 136.53 million shares outstanding and 123.39 million shares in the current float. Compared to the average trading volume of 4.27M shares, NXT stock reached a trading volume of 3782208 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $63.88 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 1.41. 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.
Guggenheim have made an estimate for Nextracker Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 08, 2024. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on January 16, 2024, representing the official price target for Nextracker Inc stock. Previously, the target price had yet another raise from $45 to $57, while Wells Fargo kept a Overweight rating on NXT stock.
The Average True Range (ATR) for Nextracker Inc is set at 2.36, with the Price to Sales ratio for NXT stock in the period of the last 12 months amounting to 3.62. Price to Free Cash Flow for NXT in the course of the last twelve months was 23.72 with Quick ratio for the last quarter at 1.46.
NXT Stock Performance Analysis:
Nextracker Inc [NXT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.52. With this latest performance, NXT shares gained by 3.31% in over the last four-week period, additionally plugging by 38.63% over the last 6 months – not to mention a rise of 92.19% in the past year of trading.
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 64.43, with the RSI for the last a single of trading hit 66.01, and the three-weeks RSI is set at 63.88 for Nextracker Inc [NXT]. The present Moving Average for the last 50 days of trading for this stock 52.11, while it was recorded at 59.95 for the last single week of trading, and 42.89 for the last 200 days.
Insight into Nextracker Inc Fundamentals:
Nextracker Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.46 and a Current Ratio set at 1.87.
NXT Stock EPS
With the latest financial reports released by the company, Nextracker Inc posted 0.38/share EPS, while the average EPS was predicted by analysts to be reported at 0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.60%. 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 37.70%.
Nextracker Inc [NXT] Institutonal Ownership Details
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%.
