Nextracker (NXT)

• Market cap: $4.59B
• Sector: Industrials
• Industry: Search, Detection, Navigation, Guidance, Aeronautical Systems

About: Nextracker (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextracker's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextracker has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.

Employees: 277

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

58% more call options, than puts

Call options by funds: $143M | Put options by funds: $90.5M

22% more repeat investments, than reductions

Existing positions increased: 158 | Existing positions reduced: 130

0.56% less ownership

Funds ownership: 98.83% [Q1] → 98.27% (-0.56%) [Q2]

5% less first-time investments, than exits

New positions opened: 100 | Existing positions closed: 105

1% less funds holding

Funds holding: 443 [Q1] → 438 (-5) [Q2]

13% less capital invested

Capital invested by funds: $7.59B [Q1] → $6.58B (-$1.01B) [Q2]

25% less funds holding in top 10

Funds holding in top 10: 12 [Q1] → 9 (-3) [Q2]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $44 38% upside
• Avg. target: $54 70% upside
• High target: $65 103% upside

11 analyst ratings

• positive: 8 73%
• neutral: 3 27%
• negative: 0 0%

JP Morgan Mark Strouse 44% 1-year accuracy 16 / 36 met price target	81% upside $58	Overweight Maintained	17 Oct 2024
Susquehanna Biju Perincheril 32% 1-year accuracy 20 / 63 met price target	56% upside $50	Positive Maintained	16 Oct 2024
Truist Securities Jordan Levy 22% 1-year accuracy 8 / 37 met price target	56% upside $50	Buy Maintained	16 Oct 2024
BMO Capital Ameet Thakkar 73% 1-year accuracy 8 / 11 met price target	38% upside $44	Market Perform Maintained	14 Oct 2024
Barclays Christine Cho 64% 1-year accuracy 18 / 28 met price target	47% upside $47	Equal-Weight Maintained	3 Oct 2024