As of Wednesday close, Nextracker Inc.’s (NASDAQ:NXT) stock was down -$0.13, moving down -0.31 percent to $41.82. The average number of shares traded per day over the past five days has been 1,116,080 shares. 5 times new highs have been achieved over the past 5 days, with a $3.46 gain in that time frame. In the last twenty days, the average volume was 1,218,230, while in the previous 50 days, it was 1,758,716.
Since last month, NXT stock retreated -3.51%. Shares of the company fell to $35.70 on 08/18/23, the lowest level in the past month. Since the beginning of this year, NXT’s stock price has risen by 37.29%. However, the stock has declined by -10.16% since its 52-week high.
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NXT stock investors should be aware that Nextracker Inc. (NXT) stock had its last reported insider trading activity 59 days ago on Jul 03. TPG GP A, LLC, the 10% Owner of the company, disposed of 2,518,438 shares for $35.31 on Jul 03. It resulted in a $88,935,364 divestment by the insider.
Valuation Metrics
Right now, Nextracker Inc. (NXT) has a P/E ratio of about 37.54. Besides these, the trailing price-to-sales (P/S) ratio of 2.96, the price-to-book (PB) ratio of 28.07, and the price-to-cash flow ratio of 211.96 may also be considered.
Financial Health
In the three months ended June 29, Nextracker Inc.’s quick ratio stood at 1.40, while its current ratio was 1.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.68, and the total debt-to-equity ratio was 0.68. On the profitability front, the trailing twelve-month gross margin is 17.70% percent. In the year ended June 29, EBITDA margin amounted to 9.10%, whereas operating margins totaled 6.80%. Based on annual data, NXT earned $286.97 million in gross profit and brought in $1.9 billion in revenue.
In Nextracker Inc.’s quarter-end financial report for June 29, it reported total debt of $147.29 million. NXT’s revenue rose 100.0% to $1.39 billion during the quarter, while net income inched up to $479.54 million. While analysts expected Nextracker Inc. to report $0.29 quarterly earnings, the actual figure was $0.48 per share, beating the consensus estimate by 65.50%. During the quarter, the company generated $74.93 million in EBITDA. The liabilities of Nextracker Inc. were 5.01 billion at the end of its most recent quarter ended June 29, and its total debt was $147.29 million. The value of shareholders’ equity is $61.99 million.
Technical Picture
This quick technical analysis looks at Nextracker Inc.’s (NXT) price momentum. With a historical volatility rate of 32.04%, the RSI 9-day stood at 63.70% on 30 August.
With respect to its five-day moving average, the current Nextracker Inc. price is up by +9.02% percent or $3.46. At present, NXT shares trade +0.22% above its 20-day simple moving average and +27.81% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.53% above its SMA50.
Stochastic coefficient K was 83.38% and Stochastic coefficient D was 69.58%, while ATR was 1.84. Given the Stochastic reading of 86.44% for the 14-day period, the RSI (14) reading has been calculated as 58.50%. As of today, the MACD Oscillator reading stands at 2.48, while the 14-day reading stands at 2.15.
Analyst Ratings
Nextracker Inc. (NXT) has been rated Buy by analysts. According to 0 brokerage firms, NXT is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Nextracker Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $50.00, the current consensus forecast for the stock is $43.00 – $60.00. Based on these forecasts, analysts predict Nextracker Inc. (NXT) will achieve an average price target of $50.21.
