Jim Cramer’s Top 12 Must-Watch Stocks

Page 4 of 11

8. Nextracker Inc. (NASDAQ:NXT)

Number of Hedge Fund Investors: 39

Jim Cramer mentioned Nextracker Inc. (NASDAQ:NXT), acknowledging that it has disappointed club members. However, he urged them to stay committed to Nextracker Inc. (NASDAQ:NXT), noting that it is currently much cheaper than First Solar Inc. (NASDAQ:FSLR).

“Let me also throw in NextTracker. I know it’s been a big disappointment for club members, but you’ve got to stick with it; it’s much cheaper than First Solar.”

Nextracker Inc. (NASDAQ:NXT)’s positive outlook is based on its leadership in solar tracker technology, strong financial results, and rising demand for renewable energy. As a top provider of solar tracking systems,Nextracker Inc. (NASDAQ:NXT) improves solar panel efficiency, positioning itself to benefit from the growing need for solar energy driven by global sustainability efforts.

In its recent Q2 2024 earnings report, Nextracker Inc. (NASDAQ:NXT) reported revenues of $260 million, a significant year-over-year increase, with a gross margin of 25%, showcasing its operational efficiency. The demand for renewable energy, supported by government incentives and corporate sustainability commitments, enhances the market for Nextracker Inc. (NASDAQ:NXT)’s products, which are essential for maximizing solar installation efficiency.

Nextracker Inc. (NASDAQ:NXT) has also secured contracts with major energy developers, boosting its order backlog and revenue visibility. With a favorable industry outlook shaped by net-zero emissions goals and increasing renewable energy capacity, Nextracker Inc. (NASDAQ:NXT) is well-positioned for continued growth, making it an appealing investment in the changing energy landscape.

Page 4 of 11