10 Most Undervalued Renewable Energy Stocks To Buy Right Now

4. Nextracker Inc. (NASDAQ:NXT)

PE Ratio as of April 30: 10.63

Number of Hedge Fund Holders: 41

Nextracker Inc. (NASDAQ:NXT) ranks 4th on our list of the most undervalued stocks in the renewable energy sector. The company specializes in solar trackers and software solutions for both large-scale and distributed solar projects worldwide. Nextracker offers the NX Horizon and NX Horizon-XTR trackers for different terrains, TrueCapture to optimize solar power production, and NX Navigator for managing and protecting solar projects.

On April 21, Piper Sandler maintained an Overweight rating on Nextracker Inc. (NASDAQ:NXT) with a price target of $49, down from $50. Piper Sandler has cut the company’s revenue and EBITDA forecasts due to market uncertainties, but remains positive on the company. With strong finances and a growing backlog, Nextracker is well-positioned to handle risks, including tariffs.

In mid-January, Nextracker Inc. (NASDAQ:NXT) partnered with UC Berkeley Engineering to create the CAL-NEXT Center for Solar Energy Research, with a $6.5 million donation from Nextracker. The center will focus on boosting solar power plant efficiency and integrating cutting-edge technology into UC Berkeley’s programs.

According to Insider Monkey’s fourth quarter database, 41 hedge funds were long Nextracker Inc. (NASDAQ:NXT), compared to 32 funds in the last quarter.