The IBD SmartSelect Composite Rating for Nextracker increased from 93 to 97 Monday.
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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. Winning stocks often have a 95 or higher rating in the early stages of a new price run, so that's a good item to have on your checklist when looking for the best stocks to buy and watch.
Nextracker is now out of buy range after breaking out from a 46.90 buy point in a double bottom.
The stock has a 93 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 93% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q4, the company posted 34% EPS growth. Revenue growth increased 26%, up from -4% in the prior quarter. That marks one quarter of rising revenue increases.
Nextracker holds the No. 1 rank among its peers in the Energy-Solar industry group. SunRun and Enphase Energy are also among the group's highest-rated stocks.
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