10 Best IPO Stocks To Buy Heading into 2025

2. Nextracker Inc. (NASDAQ:NXT)

Average Upside Potential: 87.54%

Number of Hedge Fund Holders: 39

Nextracker Inc. (NASDAQ:NXT) is an energy solutions company that provides solar tracker and software solutions for utility-scale and distributed-generation solar projects globally. Its innovative tracking solutions enhance the efficiency and energy output of solar power plants. By optimizing solar panel orientation, its technology helps maximize energy production and reduce the overall cost of solar power.

The company delivered strong financial results in FQ1 2025, with revenue surging 50.13%. This marks the 6th consecutive quarter of double-digit growth. US revenue soared 71%, while international revenue climbed 29%. Its backlog reached approximately $4 billion. Additionally, it introduced innovative products such as agri PV solutions and NX low carbon tracker.

Nextracker Inc. (NASDAQ:NXT) has been actively enhancing its product portfolio, including the launch of the NX Horizon Low Carbon Tracker in April 2024. It has secured orders for solar tracker solutions with 100% US domestic content. To offer comprehensive solutions for utility-scale projects, the company acquired Ojjo and Solar Pile International. Earlier this year, it was selected to provide NX Horizon-XTR tracker systems for the 1.17 GW Al Kahfah solar power project in Saudi Arabia. This recent order expands the company’s total capacity of smart solar trackers in the Middle East, India, and Africa region to over 10 GW.

Nextracker Inc. (NASDAQ:NXT) is the world’s largest solar tracker provider with a 30% market share and is well-positioned to capitalize on the rapid growth of solar energy. With global solar energy expected to grow over 25% annually for the next 5 years, driven by increasing government incentives, Its innovative tracking systems, which can increase energy output by up to 25%, offer a significant advantage. The company’s strong financial position, proven technology, and global presence make it a compelling investment opportunity.