Is Nextracker Inc (NASDAQ: NXT) Still A Loss Stock Despite Being Down -17.17% YTD?

During the recent session, Nextracker Inc (NASDAQ:NXT)’s traded shares were 4.84 million, with the beta value of the company hitting 2.54. At the last check today, the stock’s price was $38.81, reflecting an intraday gain of 21.38% or $6.84. The 52-week high for the NXT share is $62.31, that puts it down -60.55 from that peak though still a striking 20.3% gain since the share price plummeted to a 52-week low of $30.93. The company’s market capitalization is $5.64B, and the average intraday trading volume over the past 10 days was 2.63 million shares, and the average trade volume was 2.97 million shares over the past three months.

Nextracker Inc (NXT) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.60. NXT has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.74.

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Nextracker Inc (NASDAQ:NXT) trade information

Nextracker Inc (NXT) registered a 21.38% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 21.38% in intraday trading to $38.81, hitting a weekly high. The stock’s 5-day price performance is 24.02%, and it has moved by 7.43% in 30 days. Based on these gigs, the overall price performance for the year is 11.64%. The short interest in Nextracker Inc (NASDAQ:NXT) is 12.59 million shares and it means that shorts have 4.5 day(s) to cover.

The consensus price target of analysts on Wall Street is $58, which implies an increase of 33.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $36 and $71 respectively. As a result, NXT is trading at a discount of -82.94% off the target high and 7.24% off the low.

Nextracker Inc (NXT) estimates and forecasts

Statistics show that Nextracker Inc has outperformed its competitors in share price, compared to the industry in which it operates. Nextracker Inc (NXT) shares have gone down -11.16% during the last six months, with a year-to-date growth rate more than the industry average at 2.29% against -17.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -22.90% this quarter and then drop -17.70% in the quarter after that. In the rating firms’ projections, revenue will increase 14.10% compared to the previous financial year.

As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 734.7M as predicted by 22 analyst(s). Meanwhile, a consensus of 20 analyst(s) estimates revenue growth to 780.53M by the end of current fiscal year.

While earnings are projected to return 3.63% in 2024, the next five years will return 20.00% per annum.

NXT Dividends

Nextracker Inc is due to release its next quarterly earnings on 2025-Feb-01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.