On Thursday, Nextracker got an upgrade for its IBD SmartSelect Composite Rating from 92 to 98.
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The revised score means the stock currently tops 98% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Nextracker is currently forming a consolidation, with a 63.19 buy point. Look for the stock to break out in heavy trade at least 40% above average. Keep in mind that it's a later-stage base, and those involve more risk.
The stock sports a 93 EPS Rating, which means its recent quarterly and annual earnings growth tops 93% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 34% EPS gain for Q4. Revenue growth increased 26%, up from -4% in the prior quarter. That marks one quarter of increasing revenue growth.
Nextracker earns the No. 1 rank among its peers in the Energy-Solar industry group. SolarEdge Technologies and Enphase Energy are also among the group's highest-rated stocks.
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