What Happened?
Shares of solar tracker company Nextracker (NASDAQ:NXT) fell 8.5% in the morning session after the company announced a corporate rebranding to Nextpower and provided long-term financial targets during its Capital Markets Day. The move reflected the company's expansion from a solar tracking systems provider into an integrated energy technology platform. As part of the shift, the company also announced the development of a power conversion product line, with first shipments expected in 2026. During the event, Nextpower outlined a revenue target of $4.8 billion to $5.6 billion by fiscal year 2030. While the company reaffirmed its fiscal 2026 outlook and provided a new forecast for fiscal 2027, the stock's decline suggested investor expected more given the stock's rally since the start of the year.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Nextracker? Access our full analysis report here.
What Is The Market Telling Us
Nextracker’s shares are extremely volatile and have had 35 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 14 days ago when the stock gained 5.3% on the news that an analyst at UBS raised the company's price target and the company announced a new product launch in Australia. The UBS analyst increased the price target on the stock to $125 from $110, while keeping a "Buy" rating, signaling continued confidence in the company's potential. Adding to the positive sentiment, Nextracker launched its NX Earth Truss® foundation solution in Australia. The launch was supported by a grant from the Australian Renewable Energy Agency (ARENA). This new product aimed to speed up the development of large-scale solar projects and lower the costs and difficulties associated with building on tough ground, such as hard or rocky soils.
Nextracker is up 143% since the beginning of the year, but at $95.86 per share, it is still trading 14.3% below its 52-week high of $111.84 from November 2025. Investors who bought $1,000 worth of Nextracker’s shares at the IPO in February 2023 would now be looking at an investment worth $3,147.
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