11 Best Alternative Energy Stocks to Buy Now

7. Nextracker Inc. (NASDAQ:NXT)

Number of Hedge Funds Holders: 41

Nextracker Inc. (NASDAQ:NXT) is one of the top providers of solar tracker and software solutions. The company focuses on energy production optimization for utility-scale solar projects globally. Its flagship products include NX Horizon and NX Horizon-XTR, enhancing solar efficiency through the adjustment of panel positioning based on site conditions.

Nextracker Inc. (NASDAQ:NXT) reported its financials for Q3 2025, which ended December 31, 2024. It reported an increase of 15% in revenue, year-on-year, to $2 billion YTD, with $679 million in revenue for Q3. The company’s backlog surpassed $4.5 billion, emanating sustained demand for its tracking systems. It also reported an 11% increase in adjusted EBITDA to $186 million, whereas adjusted free cash flow more than doubled to $135 million.

Moreover, 75% of total bookings came from the U.S., as contracts were secured across 20 states. Nextracker Inc. (NASDAQ:NXT) signed 15 major projects ranging from 100 MW to 750 MW, expanding into Latin America, Europe, Australia, and the Middle East. Additionally, demand remained strong for its NX Horizon tracker and Hail Pro-75, with expanding usage of the TrueCapture software in order to increase solar plant efficiency.

Further, the company operationally benefits from a robust manufacturing presence in the U.S., ascertaining a stable supply of 100% domestic content per Treasury guidance. Nextracker Inc. (NASDAQ:NXT) has been able to decrease lead times and improve delivery performance due to its 20 U.S. production facilities, enhancing its market position.

Looking further, Nextracker Inc. (NASDAQ:NXT) increased its profit target for 2025 by $75 million, now up to a midpoint of $720 million, powered by strong backlog and continued demand for solar tracking solutions. Its stock rose by 21.49% year-to-date, indicating investor confidence in its potential for growth. Under its strong balance sheet and continued global expansion, the company is a top pick among the Best Clean Energy Stocks.