Jim Cramer on Super Micro Computer and Other Stocks

6. Nextracker Inc. (NASDAQ:NXT)

Number of Hedge Fund Holders: 38

During the lightning round, Cramer discussed Nextracker (NASDAQ:NXT) and said:

“… I talk about some ones that I’ve had winners. When I have a loser, I got to talk about them too. This is a loser. Maybe it can make a comeback.

I got too enthusiastic about it. I thought that the CEO told a really good story, but it was a very uneven story. And now we need many, many things right before it comes back. We’re not buying any more right here until we see something positive occurring.”

The company is a provider of energy solutions that focuses on solar tracking and software technologies tailored for utility-scale and distributed generation solar projects both in the United States and globally.

In its first fiscal quarter, Nextracker Inc. (NASDAQ:NXT) made some strides by acquiring Ojjo, Inc. in June for approximately $120 million. Shortly after, in July, the company also acquired the foundations business of Solar Pile International for about $48 million. Dan Shugar, the founder and CEO, expressed optimism about the company’s performance, noting a strong start to the fiscal year driven by healthy demand for solar trackers in both domestic and international markets.

However, recent developments have led to some caution among analysts. On October 2, Barclays lowered the price target on Nextracker (NASDAQ:NXT) to $47 from $61 and kept an Equal Weight rating. The firm’s analyst highlighted that delays and challenges are likely to persist into the following year, predicting that the installation pace may remain flat or increase only modestly. This subdued market outlook for 2025 suggests that competition for market share will intensify, potentially exerting pressure on average selling prices and profit margins for solar trackers in the U.S.