Nextracker Inc. (NASDAQ:NXT) finished Wednesday with a subtraction of -$0.31 to close at $40.92, a downside of -0.75 percent. An average of 1,258,460 shares of common stock have been traded in the last five days. There was a fall of -$0.81 in the past week. The last 20 days have seen an average of 1,579,520 shares traded, while the 50-day average volume stands at 1,695,278.
NXT stock has increased by 8.20% in the last month. The company shares reached their 1-month lowest point of $37.38 on 07/10/23. Shares of the company touched a low of $28.24 and a high of $46.55 in 52 weeks. In spite of this, the price is down -12.09% from the 52-week high.
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Insider Transactions
NXT stock investors should be aware that Nextracker Inc. (NXT) stock had its last reported insider trading activity 38 days ago on Jul 03.
Valuation Metrics
Nextracker Inc. (NXT) has a trailing price-to-earnings (P/E) ratio of 36.73. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.01, the price-to-book (PB) ratio at 27.46, and the price-to-cash flow ratio at 215.69.
Financial Health
The quick ratio of Nextracker Inc. for the three months ended June 29 was 1.40, and the current ratio was 1.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.68 and a total debt to equity ratio of 0.68 for the quarter ending June 29. Nextracker Inc.’s EBITDA margin for the year ending June 29 is 9.10%, while its operating margin for the same period stands at 6.80%. Its gross profit as reported stood at $286.97 million compared to revenue of $1.9 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Nextracker Inc.’s return on assets was 7.80%.
Earnings Surprise
For the three-month period that ended June 29, Nextracker Inc. had $147.15 million in total debt. The company posted a net income of -$41.44 million in the quarter, while revenues of $42.59 million were grew 100.0%. The analyst consensus anticipated Nextracker Inc.’s latest quarter earnings to come in at $0.29 per share, but it turned out to be $0.48, a 65.50% surprise. At the end of the quarter ending June 29, Nextracker Inc.’s stock balance sheet showed total debt was $147.29 million. Shareholders own equity worth $144.09 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Nextracker Inc. (NXT) price momentum. RSI 9-day as of the close on 09 August was 50.94%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.00%.
As of today, NXT’s price is $40.98 -1.94% or -$0.81 from its 5-day moving average. NXT is currently trading +7.29% higher than its 20-day SMA and +38.20% higher than its 100-day SMA. However, the stock’s current price level is +4.55% above the SMA50.
The stochastic %K and %D were 37.51% and 37.30%, respectively, and the average true range (ATR) was 2.33. With the 14-day stochastic at 37.02% and the average true range at 2.28, the RSI (14) stands at 52.54%. The stock has reached -0.71 on the 9-day MACD Oscillator while the 14-day reading was at -0.15.
Analyst Ratings
The consensus rating for Nextracker Inc. (NXT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NXT, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 12 others rate it as a “buy”.
What is NXT’s price target for the next 12 months?
Analysts predict a range of price targets between $35.00 and $60.00, with a median target of $50.00. Taking a look at these predictions, the average price target given by analysts for Nextracker Inc. (NXT) stock is $49.07.
