Nextracker Inc (NASDAQ:NXT) does about 3.22M shares in volume on a normal day but saw 1852231 shares change hands in Monday trading. The company now has a market cap of 6.40B USD. Its current market price is $46.89, marking an increase of 1.71% compared to the previous close of $46.10. The 52 week high reached by this stock is $62.14 whilst the lowest price level in 52 weeks is $29.56.
Nextracker Inc (NXT) has a 20-day trading average at $45.26 and the current price is -24.54% off the 52-week high compared with 58.65% distance from its 52-week low. The 50-day simple moving average of the closing price is $52.42 and its 200-day simple moving average is $44.88. If we look at the stock’s price movements over the week, volatility stands at 3.68%, which increases to 4.07% 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 48.58 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 25.98% 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 6.30% over the week and -6.31% over the past month. Its price is 0.09% year-to-date and 56.04% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/31/2023, with the company’s earnings per share (EPS) of 0.38 above consensus estimates by 0.07. The company’s next earnings report forecasts estimating quarterly EPS at 0.78 and 2.72 for whole year. Expected sales for next quarter are $636.78M, which analysts say will come at $2.46B for the current fiscal year and next year at $2.89B. In addition, estimates put the company’s current quarterly revenue at an average of $681.93M.
To reach the target analysts have set, the stock logically needs to grow 25.98 percent from here.
The price to earnings ratio (P/E ratio) amounts to 28.03 while the forward price to earnings ratio is 15.18. The beta has a value of 2.42. Price to sales ratio is 2.81.
