8 Most Profitable New Stocks To Invest In

3. Nextracker Inc. (NASDAQ:NXT)

TTM Net Income: $407.5 million

Number of Hedge Fund Holders: 39

Nextracker Inc. (NASDAQ:NXT) is the leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. It also sells software that allows the trackers to maximize output from solar arrays.

The company grew revenue by 50.13% in FQ1 2025, marking 6 consecutive quarters of double-digit growth. US revenue was up 71%, and international grew 29%. The backlog increased to ~$4 billion. The company introduced new products like agri PV solutions and NX low carbon tracker.

Management has been working on enhancing its product portfolio and launched the NX HorizonTM Low Carbon Tracker in April 2024 this year. It announced orders for solar tracker solutions with 100% US domestic content. The company recently acquired Ojjo and Solar Pile International to offer a comprehensive solution for utility-scale projects.

Earlier this year, the company was selected to provide its NX Horizon-XTR tracker systems for the 1.17 GW Al Kahfah solar power project in Saudi Arabia to optimize energy output. It will also support the project with local partners in Saudi Arabia by providing raw materials and manufacturing support. This order brings the company’s total capacity of smart solar trackers in the Middle East, India, and Africa region to 10+ GW

The Biden administration’s tariffs on solar products have raised concerns about increased costs. Despite this, Nextracker Inc. (NASDAQ:NXT) remains a market leader with competitive products for utility-scale solar projects. This positions it well for future success.