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Is Nextracker Stock a Buy Now?

TheMotleyFool

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Is Nextracker Stock a Buy Now?: https://g.foolcdn.com/editorial/images/834687/solar-panel.jpg

Nextracker (NASDAQ: NXT), a leading producer of solar tracking systems, went public at $24 per share on Feb. 8, 2023. Today, its stock trades at about $73. That rally was fueled by the warming solar market, which boosted its bookings, margins, and profits.

But should investors still buy Nextracker's stock after that massive rally? Let's review its business model, growth rates, and valuations to decide.

Image source: Getty Images.

Source Fool.com

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