Nextracker Inc. Class A (NXT)

Nextracker's stock has experienced notable movements in the past six months. As of October 2025, the stock had seen a substantial rise of 58% since August 2025 and was up 143% year-to-date. Guggenheim downgraded Nextracker's shares from "Buy" to "Neutral" due to valuation concerns, leading to a 3.3% decline in stock value. The stock surged 10.6% post-market in October 2025 following better-than-expected Q2 earnings and revenues. Goldman Sachs reiterated a "Buy" rating and raised its 12-month price forecast for NXT in October 2025, citing strong execution, an expanding backlog, and momentum from recent acquisitions. In August and September 2025, insider selling activity was reported.

Nextracker experiences strong and accelerating demand for its products and services, with a backlog exceeding $5 billion in October 2025. Revenue has grown significantly in the U.S., driven by a "flight to quality" and a shift towards domestically manufactured systems. Nextracker's annualized revenue growth over the last two years has surpassed its five-year trend. However, some analysts anticipate a deceleration in revenue growth over the next 12 months, and the company faces tariff-related headwinds, which could impact profitability.

Nextracker, Inc. (NXT) is an American solar tracker manufacturing company based in Fremont, California, specializing in intelligent, integrated solar tracker and software solutions within the Technology sector, specifically the Semiconductors industry. The company designs, manufactures, and supplies smart trackers that optimize the efficiency and output of solar power systems, primarily for utility-scale and distributed generation solar projects. Its major products include a range of solar trackers such as NX Horizon, NX Horizon-XTR, NX Horizon Hail Pro, and NX Horizon Low Carbon. Beyond hardware, Nextracker offers comprehensive software solutions like TrueCapture and NX Navigator, as well as foundation systems, advanced installation equipment, and electrical balance of system (eBOS) solutions.

Nextracker operates globally, with a significant presence in the United States, where it has expanded its manufacturing lines to over 20 facilities across states like Texas, Arizona, Pennsylvania, Illinois, Tennessee, and Nevada. The company also has operations in Mexico and Spain. Nextracker has a growing footprint in the Middle East and North Africa (MENA) region, notably through a new joint venture, Nextracker Arabia, formed with Abunayyan Holding in Saudi Arabia, aiming to localize production and strengthen regional supply chains. Additionally, Nextracker has an agreement with Orrcon Steel for the manufacturing of components in Australia.

Nextracker has maintained a strong brand reputation over the past year, largely due to its market leadership, innovative solutions, and robust financial performance. The company holds approximately 30% of the utility-scale solar tracker market share and is known for its data-driven optimization and advanced smart-tracker platform. In April 2024, Nextracker introduced a solar tracker system with a carbon footprint up to 35% lower than traditional trackers, which received the Carbon Trust Product Carbon Footprint Label certification. Collaborations with the National Renewable Energy Laboratory (NREL) and the formation of Nextracker Arabia further solidify its reputation as a reliable and expanding global player. The company's robust profitability, efficient operations, and strong balance sheet underscore its financial stability and positive market standing.

Institutional investors hold a significant majority of Nextracker's shares, with institutional ownership standing at 97.24%. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, Primecap Management Co/ca/, State Street Corp, Wellington Management Group Llp, IJH - iShares Core S&P Mid-Cap ETF, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Fmr Llc, Geode Capital Management, Llc and IWM - iShares Russell 2000 ETF. Individual insiders own approximately 0.532% of the company's shares.