Nextracker (NXT) Stock Forecast 2023: Is NXT a Good Investment?

Latest NXT Price

NextTracker is a company that specializes in designing and manufacturing solar tracker systems for utility-scale solar projects. The company is the leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world, our products enable solar panels to follow the sun’s movement across the sky and optimize plant performance.

Nextracker Stock Forecast Today

UTC: Sep 23rd, 2023 12:33 AM
Overall OutlookBearish
1. Market's WisdomBearish
1a. Market DataBearish
1b. Technical RecommendationSell
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentN/A

Nextracket Stock Forecast 2023

The average Nextracker Stock Forecast for the next 12 Months is $44.83

Average Nextracker Stock Forecast for the next 12 Months$44.83
JP Morgan$55
Bank of America$42
Northland Securities$32

Read: Tesla Stock Forecast 2023

Nextracker Stock Forecast: Bull Case

Market Position: Nextracker is the global market leader in the solar tracker industry and has been able to maintain its top-ranking position for 7 concurrent years, with a global share of 26-33%. In the last result, Nextracker Inc.’s global share increased slightly to 30%. The solar tracker products of Nextracker have been deployed in over 50 countries, and the company has a strong reputation for innovation and customer service.

Financial Position: Nextracker has a strong financial position. Since its inception, the average Nextracker revenue has been $362.5M annually. Nextracker’s peak revenue was $362.5M in 2021. Added to it, being a subsidiary of Flex Ltd., a large, multinational technology company, NextTracker has access to significant financial resources and has demonstrated strong financial performance in recent years.

Growing Demand for Renewable Energy: Fossil fuels have been the main source of energy that has been powering almost every industry on this planet as of now. However, the last few years saw an increase in demand for renewable energy. Solar energy is one such renewable energy set to witness high demand and growth. As the demand for solar increases, NextTracker could benefit from increased demand for its solar tracker systems.

Technological Advantages: NextTracker’s solar tracker systems are designed to maximize the energy output of solar projects, which can increase project returns and reduce the cost of energy. The company’s systems are also designed to be durable and require minimal maintenance, which can reduce overall project costs and increase the lifespan of solar projects.

Nextracker (NXT) Stock Forecast 2023: Bear Case

Regulatory Challenges: The regulatory challenges will play a major role in making or breaking solar-based companies. The Government has been proving some benefits to the companies offering alternatives to the petroleum source of energy. However, once the demand increases the government will tighten the policies which will likely affect solar-based companies like Nextracker.

Diversification: NextTracker is heavily dependent on the solar industry. Any slowdown in the industry or shift towards other renewable energy sources could negatively impact demand for NextTracker’s products and services. Therefore, the lack of diversification could stall the growth of the company in the future.

Competition: The solar tracker industry has become very competitive lately. Many companies have entered the market threatening the dominance of Nextracker. Nextracker’s competitors include companies like Telegra, Innotech, Enclustra and Impro Technologies, among others.

Limited Geographic Reach: While Nextracker has a global presence, the company is still heavily focused on the US and a few select international markets. This limits its potential customer base and could impact its ability to grow in other markets.

Nextracker Stock Prediction 2023: Is Nextracker A Good Investment?

Nextracker is a company that is set to play an important role in decreasing the world’s dependence on fossil fuels. Added to it, Nextracker is the global market leader in the solar tracker industry and has been able to maintain its top-ranking position for 7 concurrent years.

The company has been able to maintain strong financials. With the demand for renewable sources of energy increasing, the solar industry will see a tremendous increase in demand. Nextracker is therefore a good investment. However, the stock market investment will depend upon the macros which need to be considered before making an investment.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.