11 Best Solar Energy Stocks to Buy According to Hedge Funds

2. Nextracker Inc. (NASDAQ:NXT)

No. of Hedge Fund Holders: 41

Nextracker Inc. (NASDAQ:NXT) provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally.

Nextracker Inc. (NASDAQ:NXT) outperformed forecasts in Q3 2025 as its revenue of $679 million beat estimates by $32.66 million. The company’s adjusted EPS of $1.03 also topped expectations by $0.44. Moreover, NXT’s backlog hit a new record during the quarter, increasing to over $4.5 billion, supported by robust demand in all key regions with meaningful contributions from new products. The company also maintains a robust balance sheet, with $418 million of operating cash flow in the first nine months of FY 2025, ending Q3 with over $693 million in cash and equivalents.

Notably, Nextracker Inc. (NASDAQ:NXT) is now shipping 100% US domestic content solar trackers, putting it at a significant advantage in the current geoeconomic landscape. The company also remains focused on globalization and has expanded its manufacturing and supply chain network to over 70 manufacturing partners across 19 countries, enabling local content with superior on-time delivery and customer satisfaction. Moreover, Nextracker continues to enhance its innovation capabilities and recently partnered with UC Berkeley to establish the CALNEXT Center for Solar Energy Research with a $6.5 million commitment to advance solar power plant technology and develop future engineering leaders.