Nextracker: Multiple Drivers To Aim For A Prosperous Future [Seeking Alpha]
Nextracker Inc. (NXT)
Company Research
Source: Seeking Alpha
The surge in demand for new solar panel installations and its proprietary software are driving NXT growth. It seems to have a competitive advantage over ARRY and is reporting excellent stock performance, making it a buy-rated stock. Nextracker ( NASDAQ: NXT ) is one of the major global leaders in solar tracker systems technology, not only offering cutting-edge products but also software designed to optimize solar energy production by tracking sun movements. The surge in demand for new solar panel installations and the introduction of the Inflation Reduction Act , are the main current and future drivers of growth, as shown by the skyrocketing increase in revenues between FY19 and FY23 (CAGR of 30.3%). I believe NXT has a competitive advantage compared with one of its largest competitors, Array Technologies ( ARRY ), as I will show in a dedicated paragraph in the article. Although Nextracker is valued at premium multiples compared to other companies in the industry, this reflects i
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NXT
News
- JM Steel announces expansion in Pittsburgh area as demand for solar energy increases [CBS News]CBS News
- Nextracker Inc. (NASDAQ: NXT) was downgraded by analysts at Northland Securities from an "outperform" rating to a "market perform" rating. They now have a $44.00 price target on the stock, down previously from $60.00.MarketBeat
- 3 Solar Stocks to Watch Amid Bleak Residential Installation View [Yahoo! Finance]Yahoo! Finance
- Nextracker and JENNMAR Subsidiary JM Steel Bolster U.S. Supply Chain with New Facility Expansion to Triple Capacity for Solar Energy Projects [Yahoo! Finance]Yahoo! Finance
- Nextracker and JENNMAR Subsidiary JM Steel Bolster U.S. Supply Chain with New Facility Expansion to Triple Capacity for Solar Energy ProjectsBusiness Wire
NXT
Earnings
- 1/31/24 - Beat
NXT
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- NXT's page on the SEC website