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NEXTracker (NASDAQ:NXT) Stock, Rapport sur les intérêts à découvert

NEXTracker

Nextracker (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextracker's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextracker has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.

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Nexity Financial Corp

Wells Fargo analyst Aaron Rakers maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Equal-Weight and raises the price target from $135 to $140.

News

Price Target

Analyst Ratings

NTAP

Wells Fargo Maintains Equal-Weight on NetApp, Raises Price Target to $140

Truist Securities analyst Tobey Sommer maintains Leidos Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>) with a Buy and lowers the price target from $205 to $185.

LDOS

Truist Securities Maintains Buy on Leidos Holdings, Lowers Price Target to $185

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues its climb toward $100,000, but traders are adopting cautious approaches to prepare <a href="https://www.benzinga.com/money/bitcoin-price-prediction">for potential corrections</a>.
What Happened: Crypto chart analyst Ali Martinez observed a sell signal on Bitcoin's 4-hour chart, indicating a possible brief correction to $97,085. 
However, a candlestick close above $100,470 could invalidate this bearish setup and push BTC to $102,656 or $104,343.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The TD Sequential presents a sell signal on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> 4-hour chart, anticipating a brief correction to $97,085! A candlestick close above $100,470 will invalidate the bearish formation and potentially push <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> to $102,656 or $104,343. <a href="https://t.co/WiKQTGYNmJ">pic.twitter.com/WiKQTGYNmJ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859873122389983779?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another tweet, Martinez shared his strategy for protecting capital during Bitcoin&#8217;s next bear market. Predicting a peak between $173,779 and $461,862 by October 2025, he suggests:
<ul>
<li>Selling 25% of holdings between $173,000 &#8211; $200,000.</li>
<li>Selling 30% between $200,000 &#8211; $300,000.</li>
<li>Selling another 30% between $300,000 &#8211; $400,000.</li>
<li>Selling the final 15% if BTC surpasses $400,000.</li>
</ul>
Additionally, Martinez advises traders to employ a 15%-20% trailing stop-loss after Bitcoin reaches $170,000. He underscores a strict deadline: "If Oct 2025 hits, sell—no matter what."
Also Read: <a href="https://www.benzinga.com/general/education/24/11/42125880/if-you-bought-1-worth-of-bitcoin-at-launch-heres-how-much-youd-have-today-2">If You Bought $1 Worth Of Bitcoin At Launch, Here&#8217;s How Much You&#8217;d Have Today</a>
Why It Matters: Martinez <a href="https://x.com/ali_charts/status/1859909759945850904">noted</a> that over 65,000 BTC, worth $6.37 billion, have been withdrawn from exchanges in the past 96 hours.
IntoTheBlock data shows large transaction volume increasing by 47.5% and daily active addresses grew by 27.2%. Transactions greater than $100,000 are up from 13,321 to 18,859 in a single day. Exchanges netflows are down by 4.5%.
Lookonchain data <a href="https://x.com/lookonchain/status/1859671734951252362">highlighted</a> the ten Bitcoin ETFs saw a netflow of 8,585, worth $842.7 million, in one day. BlackRock inflows increased by 6,643 BTC, worth $652.08 million, bringing its total to 481,270 BTC.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42116183/michael-saylor-predicted-bitcoin-to-hit-13-million-if-it-happens-it-will-entail-massive-hyperinflation-analyst-warns">Michael Saylor Predicted Bitcoin To Hit $13 Million — If It Happens, It Will Entail &#8216;Massive Hyperinflation,&#8217; Analyst Warns</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin Zeroes In On $100,000, But This Indicator Signals One More Brief Correction

Truist Securities analyst Tobey Sommer maintains Parsons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSN#NYSE">PSN</a>) with a Buy and lowers the price target from $130 to $110.

Truist Securities Maintains Buy on Parsons, Lowers Price Target to $110

Wells Fargo analyst Andrew Nowinski maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Overweight and raises the price target from $100 to $135.

ESTC

Wells Fargo Maintains Overweight on Elastic, Raises Price Target to $135

Wells Fargo analyst Chris Carey maintains Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Overweight and raises the price target from $188 to $190.

Wells Fargo Maintains Overweight on Procter & Gamble, Raises Price Target to $190

Truist Securities analyst Tobey Sommer maintains CACI International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CACI#NYSE">CACI</a>) with a Buy and lowers the price target from $650 to $550.

CACI

Truist Securities Maintains Buy on CACI International, Lowers Price Target to $550

Wells Fargo analyst Ike Boruchow maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Overweight and raises the price target from $28 to $30.

Wells Fargo Maintains Overweight on Gap, Raises Price Target to $30

Oppenheimer analyst Kristen Owen maintains Deere (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) with a Outperform and raises the price target from $448 to $477.

Oppenheimer Maintains Outperform on Deere, Raises Price Target to $477

Cantor Fitzgerald analyst Kristen Kluska reiterates Codexis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDXS#NASDAQ">CDXS</a>) with a Overweight and maintains $11 price target.

Reiteration

CDXS

Cantor Fitzgerald Reiterates Overweight on Codexis, Maintains $11 Price Target

WIIM

LGTY

Logility Supply Chain Solutions shares are trading lower after the company reported worse-than-expected Q2 revenue results and issued FY25 revenue guidance below estimates.

Oppenheimer analyst Scott Schneeberger maintains Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) with a Outperform and raises the price target from $712 to $722.

INTU

Oppenheimer Maintains Outperform on Intuit, Raises Price Target to $722

Cantor Fitzgerald analyst Prakhar Agrawal reiterates Keros Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KROS#NASDAQ">KROS</a>) with a Overweight.

KROS

Cantor Fitzgerald Reiterates Overweight on Keros Therapeutics

Oppenheimer analyst Ittai Kidron maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Outperform and raises the price target from $125 to $140.

Oppenheimer Maintains Outperform on Elastic, Raises Price Target to $140

The U.S. dollar surged to its highest level in over two years against a basket of currencies on Friday, extending its rally to an eighth consecutive week — the longest winning <a href="https://www.benzinga.com/markets/forex">streak in 14 months. </a>
A wave of weaker-than-expected business activity data from Europe has weighed heavily on the euro and the British pound, as investors brace for faster rate cuts by the European Central Bank (ECB) and the Bank of England (BoE).
<h3 class="wp-block-heading">Eurozone PMI Dives Into Contraction</h3>
In November, private-sector activity in the eurozone unexpectedly contracted, triggering fresh concerns about the region&#8217;s economic outlook. 
The Composite Purchasing Managers&#8217; Index (PMI), compiled by S&amp;P Global, fell to 48.1, well below the neutral 50 threshold and missing forecasts for an unchanged reading. This marks the first contraction in eurozone business activity since January.
The downturn was driven by a drop in new orders, higher input prices, and escalating political uncertainty. 
Chris Williamson, chief business economist at S&amp;P Global, commented: &#8220;The flash PMI survey data for November showed the eurozone economy falling back into contraction, as malaise spread from the struggling manufacturing sector to the larger services economy.&#8221;
<h3 class="wp-block-heading">UK Economy Also Contracts</h3>
Across the Channel, the UK also delivered a disappointing PMI reading. The Composite PMI fell to 49.9, a drop from the previous month's 51.8, and below market expectations of 51.7. 
This marks the first contraction in UK private-sector activity since October 2023. 
&#8220;The November PMI is indicative of the economy slipping into a modest decline, with GDP dropping at a 0.1% quarterly rate, but the loss of confidence hints at worse to come &#8211; including further job losses -unless sentiment revives,&#8221; Williamson said.
<h3 class="wp-block-heading">Dollar Index Climbs as Euro, Pound Tumble</h3>
The U.S. Dollar Index (DXY), a key measure of the greenback's performance which is closely tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed above 107 — a level last seen on Nov. 18, 2022. 
The euro plunged to 1.04 against the dollar, its lowest level in two years. The pound fell to 1.25, on track for its eighth straight weekly loss — the longest losing streak since 1980.
On Friday, S&amp;P Global will release flash PMI data for the U.S. economy at 9.45 a.m. ET. Economists predict the Services PMI to edge higher from 55 to 55.2 in November, which would mark the strongest expansion since August.
Manufacturing momentum is also expected to improve from 48.5 to 48.8, albeit remaining in contractionary territory. 
<h3 class="wp-block-heading">Analysts: Euro Vulnerable Amid Weak Data And Geopolitical Risks</h3>
Forex analysts point to several catalysts for the euro's sharp decline. 
&#8220;The worsening of the Ukrainian crisis has opened up a phase of risk aversion, hitting the EUR and GBP,&#8221; said Luca Cigognini, a forex strategist at Intesa Sanpaolo.
Chris Turner, an analyst at ING Group, highlighted the technical significance of the euro's drop: &#8220;Today's release of softer-than-expected eurozone PMIs proved the catalyst for EUR/USD to break to the downside of its two-year trading range. Even though a near 7% drop in just two months is exceptionally rapid by historical standards, we remain confident in a lower EUR/USD trajectory. Support is limited, with the next key level around 1.0190/1.0200.&#8221;
BBVA analyst Alejandro Cuadrado echoed similar concerns, pointing out that additional downside pressure on the euro could arise from political instability in Germany, the outcome of the U.S. elections, and intensifying geopolitical risks. 
&#8220;The tense situation in Europe could worsen in the short term, and investors are clearly taking a cautious approach on the EUR,&#8221; he said.
Cuadrado's colleague, Michalis Onisiforou, shed light on Germany's economic struggles: &#8220;The collapse of Germany's coalition government and early elections mean there won't be any immediate fiscal response to alleviate the pessimism surrounding the domestic economy. Coupled with escalating risks in the Russo-Ukrainian war, Germany faces significant headwinds.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42124676/november-small-cap-surge-could-carry-into-decembers-santa-rally-historical-trends-suggest">November Small-Cap Surge Could Carry Into December&#8217;s Santa Rally, Historical Trends Suggest</a></li>
</ul>
Photo: Shutterstock

Eurozone

Currency ETFs

Forex

Econ #s

Economics

ETFs

PowerShares DB US Dollar Index Bullish Fund

Dollar Hits 2-Year High As European Recession Fears Hammer Euro, Pound

Barclays analyst Kannan Venkateshwar maintains Warner Music Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NASDAQ">WMG</a>) with a Equal-Weight and lowers the price target from $32 to $31.

Barclays Maintains Equal-Weight on Warner Music Gr, Lowers Price Target to $31

Barclays analyst Seth Sigman maintains Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) with a Overweight and raises the price target from $78 to $90.

Barclays Maintains Overweight on Walmart, Raises Price Target to $90

PMAX

Powell Max shares are trading higher after the company secured a $40 million equity line of credit with Yorkville Advisors to enhance liquidity and support strategic investments.

AMIX

Autonomix Medical shares are trading lower after the company announced the pricing of a $9 million underwritten public offering.

Barclays analyst Adrienne Yih maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Overweight and raises the price target from $31 to $32.

Barclays Maintains Overweight on Gap, Raises Price Target to $32

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Nextracker Inc. (NXT) Q2 2025 Earnings Call Transcript

Nextracker: Tracking Well On Quality Metrics

Powell Industries (POWL) reported solid financial results in the third quarter of 2024, easily beating analysts' expectations. While the industrial machinery company's long-term prospects are robust with a wide product portfolio, increasing demand, and market expansion, it faces short-term uncertainties amid upcoming earnings report and rigid competition. So, should you add this stock to your watchlist? Read more to find out... Powell Industries, Inc. (<a href="https://stocknews.com/stock/POWL/">POWL</a>) is a leading provider of custom-engineered equipment and systems. The company engaged in the designing, development, manufacturing, sale, and services of these systems. In the last reported quarter, the company's revenue of $288.17 million surpassed the analysts' expectations of $222.18 million. Also, its EPS of $3.79 was above the estimate of $2.16.
The revenue increase from the prior period was primarily driven by strong growth in the Oil and Gas sector, which increased 56% year-over-year to $114.3 million. Also, revenues from the Electric Utility sector amounted to $57 million, indicating an increase of 30%.
During the third quarter, POWL's new orders totaled $356 million, which were spread broadly across its key end markets, and its backlog was $1.30 billion as of June 30, 2024. The orders represent the estimated value of contracts added to the company's existing backlog and its continuous strides toward further expansion.
Amid the growth in the manufacturing industry and overall economic growth, the global industrial machinery market has grown strongly in recent years. The market is poised to grow to $777.35 billion by 2028, at a <a href="https://www.researchandmarkets.com/reports/5939714/industrial-machinery-global-market-report#:~:text=The%20industrial%20machinery%20market%20size,(CAGR)%20of%207.8%25.">CAGR of 7.2%</a>, driven by technological advances, market expansion, and adoption of robotics and automation.
Powell stands to capitalize on the industry's solid standing with its wide product portfolio. The company plays a crucial role in the industrial sector, especially with its electrical equipment products like electrical houses and medium-voltage circuit breakers.
Currently, a certain degree of uncertainty is lingering around the future prospects of POWL as it prepares to announce its financial results for the fiscal fourth quarter and year ended September 30, 2024, on November 19, 2024. Analysts have mostly projected optimistic expectations on its revenue and EPS for the quarter, with some alternate opinions.
Shares of POWL have gained 114.4% over the past six months and 317.3% over the past year to close its last trading session at $343.86.
Let's look at factors that could influence POWL's performance in the upcoming months.
Robust Financials
For the third quarter that ended June 30, 2024, POWL's revenues increased 49.8% year-over-year to $288.17 million. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 91.6% from the year-ago value to $81.74 million. The company's operating income of $57.29 million indicates growth of 165.8% year-over-year.
Furthermore, the company reported net income and EPS of $46.22 million and $3.79, reflecting increases of 150.5% and 149.3% from the prior year's quarter, respectively. Also, POWL's total assets stood at $868.98 million as of June 30, 2024, compared to $752.24 million as of September 30, 2023.
Favorable Analyst Estimates
Analysts expect POWL's revenue for the fourth quarter (ended September 2024) to come in at $286.49 million, indicating an increase of 37.3% year-over-year. The consensus EPS estimate of $3.55 for the same period reflects an 82.1% year-over-year improvement. Further, the company has maintained an impressive earning history, having topped the consensus revenue and EPS estimates in each trailing four quarters.
For the fiscal year 2024, the company's revenue and EPS are anticipated to grow 50.2% and 185.9% year-over-year to $1.05 billion and $11.78, respectively. In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 6% and 4.9% from the prior year to $1.11 billion and $12.36, respectively.
Robust Profitability
POWL's trailing-12-month EBIT margin and net income margin of 16.12% and 13.77% are 56.3% and 114.2% higher than the 10.31% and 6.43% industry average, respectively. Its trailing-12-month Levered FCF margin of 16.81% is significantly higher than the industry average of 6.66%.
Elevated Valuation
In terms of forward non-GAAP P/E, POWL is currently trading at 29.19x, 36.4% higher than the industry average of 21.40x. The stock's forward EV/Sales and Price/Sales of 3.57x and 3.92x are considerably higher than the industry average of 2.04x and 1.64x, respectively.
Additionally, the stock's forward EV/EBITDA and Price/Book of 20.42x and 8.75x are currently 63.2% and 167% higher than the industry averages of 12.51x and 3.28x, respectively.
POWR Ratings Reflect Uncertainty
POWL's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, translating to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. POWL has an A grade for Quality, consistent with its higher-than-industry profitability.
However, the company's elevated valuation has earned it a C grade for Value.
POWL is ranked #42 among the 79 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry.
Beyond what I have stated above, we have also given POWL grades for Momentum, Sentiment, Stability, and Growth. Get access to all the POWL ratings <a href="https://stocknews.com/stock/POWL/">here</a>.
Bottom Line
POWL reported solid financial results in the last reported quarter. Further, the company's long-term growth opportunities are solid, driven by the increasing number of new orders, innovative products, and widening sector scope. However, it continues to grapple with elevated valuation, short-term uncertainties, and rigid competition from its peers like Fluence Energy, Inc. (<a href="https://stocknews.com/stock/FLNC/">FLNC</a>) and Nextracker, Inc. (<a href="https://stocknews.com/stock/NXT/">NXT</a>).
Given POWL's elevated valuation and near-term prospects, waiting for a better entry point in this stock seems prudent.
Stocks to Consider Instead of Powell Industries, Inc. (POWL)
Given its near-term uncertain prospects, the odds of POWL outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry instead:
Smiths Group PLC (<a href="https://stocknews.com/stock/SMGZY/">SMGZY</a>)
Donaldson Company, Inc. (<a href="https://stocknews.com/stock/DCI/">DCI</a>)
Techtronic Industries Co. Ltd. ADR (<a href="https://stocknews.com/stock/TTNDY/">TTNDY</a>)
For exploring more A and B-rated industrial stocks, <a href="https://stocknews.com/category/industrial-machinery/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
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<hr />
POWL shares were trading at $317.63 per share on Wednesday afternoon, down $26.23 (-7.63%). Year-to-date, POWL has gained 261.12%, versus a 26.92% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/powl-smgzy-dci-ttndy-flnc-nxt-should-you-watch-powell-industries-amidst-industrial-sector-growth/>Should You Watch Powell Industries Amidst Industrial Sector Growth?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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