RBC Capital Initiates Coverage of Nextracker (NXT) with Outperform Recommendation

Fintel reports that on March 17, 2025, RBC Capital initiated coverage of Nextracker (NasdaqGS:NXT) with a Outperform recommendation.

Analyst Price Forecast Suggests 22.00% Upside

As of March 4, 2025, the average one-year price target for Nextracker is $55.97/share. The forecasts range from a low of $34.34 to a high of $72.45. The average price target represents an increase of 22.00% from its latest reported closing price of $45.88 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Nextracker is 2,604MM, a decrease of 6.04%. The projected annual non-GAAP EPS is 1.89.

What is the Fund Sentiment?

There are 932 funds or institutions reporting positions in Nextracker. This is an increase of 1 owner(s) or 0.11% in the last quarter. Average portfolio weight of all funds dedicated to NXT is 0.27%, an increase of 2.09%. Total shares owned by institutions increased in the last three months by 5.66% to 182,343K shares. The put/call ratio of NXT is 2.23, indicating a bearish outlook.

What are Other Shareholders Doing?

Primecap Management holds 7,702K shares representing 5.36% ownership of the company. In its prior filing, the firm reported owning 7,844K shares , representing a decrease of 1.85%. The firm increased its portfolio allocation in NXT by 0.80% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 4,662K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 4,484K shares , representing an increase of 3.83%. The firm decreased its portfolio allocation in NXT by 2.67% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,234K shares representing 2.95% ownership of the company. In its prior filing, the firm reported owning 4,264K shares , representing a decrease of 0.69%. The firm decreased its portfolio allocation in NXT by 4.61% over the last quarter.

IWM - iShares Russell 2000 ETF holds 3,878K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 3,737K shares , representing an increase of 3.65%. The firm decreased its portfolio allocation in NXT by 2.53% over the last quarter.

Invesco holds 3,875K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 2,545K shares , representing an increase of 34.31%. The firm decreased its portfolio allocation in NXT by 87.16% over the last quarter.

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This story originally appeared on Fintel.

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