Nextracker Inc (NASDAQ:NXT) does about 3.60M shares in volume on a normal day but saw 2329174 shares change hands in Monday trading. The company now has a market cap of 6.02B USD. Its current market price is $44.11, marking an increase of 0.80% compared to the previous close of $43.76. The 52 week high reached by this stock is $62.14 whilst the lowest price level in 52 weeks is $29.28.
Nextracker Inc (NXT) has a 20-day trading average at $46.94 and the current price is -29.02% off the 52-week high compared with 50.65% distance from its 52-week low. The 50-day simple moving average of the closing price is $53.82 and its 200-day simple moving average is $44.75. If we look at the stock’s price movements over the week, volatility stands at 5.04%, which decreases to 4.23% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 31.01 to suggest the stock is neutral.
The consensus objective for the share price is $63.35, suggesting that the stock has a potential upside of 30.37% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on April 26, 2024 when Northland Capital downgraded the stock to “Market Perform” and issued a price target of between $60 and $44. Barclays also downgraded the stock to “Equal Weight” from Overweight on April 02, 2024 at a price target of $55-$63. Daiwa Securities initiated its price target at $63.
Nextracker Inc (NXT) stock is up 0.25% over the week and -21.61% over the past month. Its price is -5.85% year-to-date and 37.20% over the past year.
To reach the target analysts have set, the stock logically needs to grow 30.37 percent from here.
The price to earnings ratio (P/E ratio) amounts to 26.36 while the forward price to earnings ratio is 14.28. The beta has a value of 2.37. Price to sales ratio is 2.64.
