Nextracker saw its IBD SmartSelect Composite Rating jump to 97 Monday, up from 92 the day before.
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The revised score means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. The market's biggest winners often have a 95 or higher grade in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Nextracker is currently forming a consolidation, with a 67.87 buy point. Look for the stock to break out in heavy trade at least 40% higher than normal. But note that it's a later-stage base, which makes it a riskier entry point.
The stock sports a 97 EPS Rating, meaning its recent quarterly and annual earnings growth tops 97% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q1, the company posted 25% earnings growth. Revenue growth fell to 20%, down from 26% in the prior quarter.
Nextracker earns the No. 1 rank among its peers in the Energy-Solar industry group. SunRun and SolarEdge Technologies are also among the group's highest-rated stocks.
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