Latest news with #Nextracker
Yahoo
a day ago
- Business
- Yahoo
Why Is Nextracker (NXT) Stock Soaring Today
What Happened? Shares of solar tracker company Nextracker (NASDAQ:NXT) jumped 10.7% in the afternoon session after an upgrade from Guggenheim to 'Buy' from 'Neutral,' citing favorable new guidance from the IRS on clean-energy tax credits. The investment bank set a $74 price target on the stock, representing about 22% upside from its prior close. The upgrade was driven by new guidance from the U.S. Treasury and IRS regarding clean-energy tax incentives. Specifically, updated "safe-harbor" rules now clarify that racking installation—a core part of Nextracker's business—qualifies as physical work for tax credit purposes. Analysts at Guggenheim view this as a significant positive development for solar tracker suppliers. The news was well-received by the market, sending Nextracker shares to an all-time high and lifting other solar stocks as the guidance was seen as broadly better than feared. Is now the time to buy Nextracker? Access our full analysis report here, it's free. What Is The Market Telling Us Nextracker's shares are extremely volatile and have had 33 moves greater than 5% over the last year. But moves this big are rare even for Nextracker and indicate this news significantly impacted the market's perception of the business. The previous big move we wrote about was 4 days ago when the stock dropped 3.3% on the news that an unexpectedly sharp rise in wholesale inflation fueled concerns about rising costs and their impact on corporate profits. The primary catalyst was the July 2025 Producer Price Index (PPI), a measure of inflation at the wholesale level, which jumped 0.9% against forecasts of a 0.2% rise. This represents the most significant monthly increase in over three years, pointing to mounting cost pressures for manufacturers, with tariffs cited as a key factor. This data complicates the Federal Reserve's upcoming interest rate decisions, as persistent inflation may prevent rate cuts, creating a headwind for cyclical sectors like Industrials. Nextracker is up 71.1% since the beginning of the year, and at $67.59 per share, has set a new 52-week high. Investors who bought $1,000 worth of Nextracker's shares at the IPO in February 2023 would now be looking at an investment worth $2,219. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Intel & Trump, UnitedHealth extends gains, Nextracker upgraded
Yahoo Finance anchor Josh Lipton tracks Monday's top moving stocks and biggest market stories in this Market Minute. Intel (INTC) stock faces pressure as the Trump administration reportedly considers taking a 10% stake in the company, according to Bloomberg. UnitedHealth (UNH) stock extends gains following Friday's 12% surge, driven by news that Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) has a stake of 5 million shares in the insurer. Nextracker (NXT) was upgraded to Buy from Neutral by Guggenheim, citing opportunities in manufacturing. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo Finance's market minute. Intel under pressure with the Trump administration reportedly in discussions to take a stake in the chipmaker. According to Bloomberg, the administration is looking at a stake of about 10% in Intel. The potential investment would involve converting some or all of the company's grants from the US Chips and Science Act into equity. And turning to United Health, those shares extending gains in today's trade after a roughly 12% rally on Friday. The move higher comes after Buffett's investment in the stock. Warren Buffett's Berkshire Hathaway revealing a stake of 5 million shares signaling a vote of confidence in the troubled health insurer. And lastly, Next Tracker getting an upgrade at Guggenheim, the firm lifting its rating on that stock from neutral to buy. Guggenheim noting that the solar tracker provider has a significant opportunity to undertake manufacturing work for the next several years. And that's your Yahoo Finance market minute. For more on what's trending on Yahoo Finance, scan the QR code below. Related Videos Vanguard Plans for Its Most Expensive ETFs Yet Soho House's $2.7B deal, Novo cuts Ozempic price, Sunrun upgraded Meta's reported shake-up, Hims & Hers sinks on GoodRx–Novo deal GoodRx CEO discusses GLP-1 deal with Novo Nordisk: What to know Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Nextracker stock rises after Guggenheim upgrades on IRS rule changes
-- Nextracker (NASDAQ:NXT) stock rose 5% Monday morning after Guggenheim upgraded the solar tracking system manufacturer from Neutral to Buy with a price target of $74, representing a potential 22% upside from Friday's closing price of $60.58. The upgrade comes after the IRS released updated safe-harbor rules that Guggenheim analyst Joseph Osha believes will significantly benefit tracker companies like Nextracker. The new rules specifically mention racking installation as activity that meets the physical work test for tax credit qualification. "We believe that Friday's safe-harbor clarifications from the IRS were good news for tracker suppliers like NXT," Osha noted in his report. The IRS guidelines allow for "off-site work of a significant nature" to qualify projects for tax credits as long as the work is tied to a specific project. This provision specifically includes mounting equipment, support structures, and other power conditioning equipment - core products in Nextracker's business. Guggenheim highlighted that tracker companies with established domestic supply chains are well-positioned to benefit as developers work to stay within Foreign Entity of Concern (FEOC) limits, with additional clarity on FEOC implementation potentially coming as early as this week. Despite Nextracker's stock increasing 50% over the past year compared to the S&P 500's 15% gain, Guggenheim views the current valuation as attractive at 10.2x calendar 2025 EBITDA estimates and 9.6x 2026 EBITDA estimates. The firm established a target multiple of 12x 2026 EBITDA to support its $74 price target. Related articles Nextracker stock rises after Guggenheim upgrades on IRS rule changes Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Tesla: Hype Aside, How Much Is the EV Giant Really Worth Now?
Globe and Mail
a day ago
- Business
- Globe and Mail
Nextracker Releases Fiscal Year 2025 Sustainability Report
Nextracker (Nasdaq: NXT), a leading solar technology platform provider, today published its fiscal year 2025 Sustainability Report, highlighting significant progress in advancing the company's environmental, social, and governance (ESG) initiatives across its global operations. This second annual publication reinforces the company's commitment to building a more sustainable, inclusive, and transparent energy industry. This press release features multimedia. View the full release here: The report aligns with the Sustainability Accounting Standards Board (SASB) standards for the Electrical and Electronic Equipment industry and provides disclosures in reference to the Global Reporting Initiative (GRI) framework. It also includes Nextracker's Task Force on Climate-related Financial Disclosures (TCFD) index, reaffirming the company's commitment to continuous annual improvement in climate risk transparency and accountability. 'Together with our customers, investors, partners, and employees, we are building a resilient and sustainable future,' said Dan Shugar, founder and CEO of Nextracker. 'This report is not only a record of demonstrated progress, but a reaffirmation of our responsibility to lead by example in the energy sector.' FY25 Sustainability Highlights: Responsible Products and Supply Chain Introduced NX Foundation Solutions, including NX Anchor™, improving solar deployment across all soil types Introduced its NX Horizon™ low carbon tracker (LCT) systems, reducing tracker-related carbon emissions by up to 35% Achieved ISO 9001 certification for quality management across operations in Brazil, India, and the U.S. Greenhouse Gas (GHG) Emissions and Resource Efficiency Committed to setting near-term targets in line with the Science-Based Targets (SBTi) framework, a globally recognized framework to set GHG reduction targets Published the company's first Task Force Climate Financial Disclosure (TCFD) index, based on a climate risk assessment, a key milestone ensuring compliance with California SB 261 law (CA SB 261) Obtained a third-party assurance for our Scope 1 and Scope 2 GHG emissions data Earned ISO 14001:2015 certification for Environmental Management System in the U.S. and maintained certification in Brazil People and Culture Achieved a Total Recordable Incident Rate (TRIR) of 0.61, exceeding U.S. safety operations goal of 1.2 Expanded ISO 45001:2018 certification scope to include operations in Brazil Launched the CAL-NEXT Center for Solar Energy Research in partnership with the University of California (UC) Berkeley, supporting solar technology innovation and workforce development Accountable Corporate Citizenship Adopted a Responsible Minerals Policy Published Nextracker's Human Rights Statement, reinforcing commitment to fair labor practices and dignity in the workplace The full fiscal year 2025 Sustainability Report is available as a downloadable PDF on the Nextracker website. About Nextracker Nextracker innovates and delivers a leading solar power technology platform with integrated tracker, electrical solutions, and yield management and control systems for utility-scale and distributed generation projects. Our advanced technology enables solar power plants to follow the sun's movement across the sky and optimize performance. With systems operating in more than 40 countries worldwide, Nextracker offers innovative solutions that accelerate solar power plant construction, increase energy output, and enhance long-term reliability. For more information, please visit
Business Wire
a day ago
- Business
- Business Wire
Nextracker Releases Fiscal Year 2025 Sustainability Report
FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker (Nasdaq: NXT), a leading solar technology platform provider, today published its fiscal year 2025 Sustainability Report, highlighting significant progress in advancing the company's environmental, social, and governance (ESG) initiatives across its global operations. This second annual publication reinforces the company's commitment to building a more sustainable, inclusive, and transparent energy industry. The report aligns with the Sustainability Accounting Standards Board (SASB) standards for the Electrical and Electronic Equipment industry and provides disclosures in reference to the Global Reporting Initiative (GRI) framework. It also includes Nextracker's Task Force on Climate-related Financial Disclosures (TCFD) index, reaffirming the company's commitment to continuous annual improvement in climate risk transparency and accountability. 'Together with our customers, investors, partners, and employees, we are building a resilient and sustainable future,' said Dan Shugar, founder and CEO of Nextracker. 'This report is not only a record of demonstrated progress, but a reaffirmation of our responsibility to lead by example in the energy sector.' FY25 Sustainability Highlights: Responsible Products and Supply Chain Introduced NX Foundation Solutions, including NX Anchor™, improving solar deployment across all soil types Introduced its NX Horizon™ low carbon tracker (LCT) systems, reducing tracker-related carbon emissions by up to 35% Achieved ISO 9001 certification for quality management across operations in Brazil, India, and the U.S. Greenhouse Gas (GHG) Emissions and Resource Efficiency Committed to setting near-term targets in line with the Science-Based Targets (SBTi) framework, a globally recognized framework to set GHG reduction targets Published the company's first Task Force Climate Financial Disclosure (TCFD) index, based on a climate risk assessment, a key milestone ensuring compliance with California SB 261 law (CA SB 261) Obtained a third-party assurance for our Scope 1 and Scope 2 GHG emissions data Earned ISO 14001:2015 certification for Environmental Management System in the U.S. and maintained certification in Brazil People and Culture Achieved a Total Recordable Incident Rate (TRIR) of 0.61, exceeding U.S. safety operations goal of 1.2 Expanded ISO 45001:2018 certification scope to include operations in Brazil Launched the CAL-NEXT Center for Solar Energy Research in partnership with the University of California (UC) Berkeley, supporting solar technology innovation and workforce development Accountable Corporate Citizenship Adopted a Responsible Minerals Policy Published Nextracker's Human Rights Statement, reinforcing commitment to fair labor practices and dignity in the workplace The full fiscal year 2025 Sustainability Report is available as a downloadable PDF on the Nextracker website. About Nextracker Nextracker innovates and delivers a leading solar power technology platform with integrated tracker, electrical solutions, and yield management and control systems for utility-scale and distributed generation projects. Our advanced technology enables solar power plants to follow the sun's movement across the sky and optimize performance. With systems operating in more than 40 countries worldwide, Nextracker offers innovative solutions that accelerate solar power plant construction, increase energy output, and enhance long-term reliability. For more information, please visit
