Reassessing The Changing Outlook For Nextracker Inc (NXT)

Currently, there are 136.54M common shares owned by the public and among those 130.12M shares have been available to trade.

The company’s stock has a 5-day price change of -11.29% and 11.72% over the past three months. NXT shares are trading 11.72% year to date (YTD), with the 12-month market performance up to 50.62% higher. It has a 12-month low price of $29.28 and touched a high of $62.14 over the same period. NXT has an average intraday trading volume of 4.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.35%, -6.15%, and 19.07% respectively.

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Institutional ownership of Nextracker Inc (NASDAQ: NXT) shares accounts for 45.41% of the company’s 136.54M shares outstanding.

It has a market capitalization of $7.15B and a beta (3y monthly) value of 1.94. The stock’s trailing 12-month PE ratio is 31.28, while the earnings-per-share (ttm) stands at $1.67. The company has a PEG of 0.83 and a Quick Ratio of 1.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.59% over the week and 3.93% over the month.

Analysts forecast that Nextracker Inc (NXT) will achieve an EPS of $0.73 for the current quarter, $0.68 for the next quarter and $3.13 for 2025. The lowest estimate earnings-per-share for the quarter is $0.53 while analysts give the company a high EPS estimate of $1.11. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 150.06%, and 17.55% over the next financial year.

Looking at the support for the NXT, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on April 02, 2024, with the firm’s price target at $55-$63. Daiwa Securities coverage for the Nextracker Inc (NXT) stock in a research note released on April 01, 2024 offered a Outperform rating with a price target of $63. BMO Capital Markets was of a view on March 22, 2024 that the stock is Market Perform, while Robert W. Baird gave the stock Outperform rating on March 21, 2024, issuing a price target of $71. Guggenheim on their part issued Buy rating on February 08, 2024.

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