In the last trading session, 2.12 million shares of the Nextracker Inc (NASDAQ:NXT) were traded, and its beta was 2.27. Most recently the company’s share price was $37.43, and it changed around $0.63 or 1.71% from the last close, which brings the market valuation of the company to $5.04B. NXT currently trades at a discount to its 52-week high of $62.31, offering almost -66.47% off that amount. The share price’s 52-week low was $30.93, which indicates that the current value has risen by an impressive 17.37% since then. We note from Nextracker Inc’s average daily trading volume that its 10-day average is 3.68 million shares, with the 3-month average coming to 3.04 million.

Nextracker Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.59. If we narrow it down even further, the data shows that 0 out of 30 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 7 recommended NXT as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. Nextracker Inc is expected to report earnings per share of 0.6 for the current quarter.

Nextracker Inc (NASDAQ:NXT) trade information

Instantly NXT has showed a green trend with a performance of 1.71% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 40.33 on recent trading dayincreased the stock’s daily price by 7.19%. The company’s shares are currently down -20.11% year-to-date, but still down -5.43% over the last five days. On the other hand, Nextracker Inc (NASDAQ:NXT) is 11.66% up in the 30-day period. We can see from the shorts that 12.51 million shares have been sold at a short interest cover period of 4.54 day(s).

The consensus price target as assigned by Wall Street analysts is $58, which translates to bulls needing to increase their stock price by 35.47% from its current value. Analyst projections state that NXT is forecast to be at a low of $36 and a high of $71.

Nextracker Inc (NXT) estimates and forecasts

Nextracker Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -15.70 percent over the past six months and at a 7.52% annual growth rate that is well above the industry average of -18.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -37.91% in revenue this quarter, and will report a decrease of -17.32% in the next quarter. The year-over-year growth rate is expected to be 14.19%, up from the previous year.

Consensus estimates provided by 20 financial analysts predict the company will bring in an average of 654.9M in revenue for the current quarter. 20 analysts expect Nextracker Inc to make 843.94M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 710.43M and 736.51M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -7.82%. Forecasts for the next quarter put sales growth at 14.59%.

Nextracker Inc earnings are expected to increase by 6.21% in 2024, but the outlook is positive 16.00% per year for the next five years.

NXT Dividends

Nextracker Inc’s next quarterly earnings report is expected to be released in December.

Nextracker Inc (NASDAQ:NXT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.43% of Nextracker Inc shares, and 103.50% of them are in the hands of institutional investors. The stock currently has a share float of 103.94%.