10 Stocks Suffer Heavy Selling Pressure

4. Nextracker Inc. (NASDAQ:NXT)

Nextracker dropped for a second day on Wednesday, slashing 8.81 percent to close at $96.50 apiece as investors sold off positions following plans to diversify from solar tracking to other technologies such as robotics and AI.

In a statement, Nextracker Inc. (NASDAQ:NXT) said that it would change its name to Nextpower Inc. in line with plans to transform from being a sole solar tracking company to becoming a full-platform organization, delivering an integrated portfolio of advanced technologies and services for utility-scale solar power plants.

Despite the name change, the company will continue to trade under the ticker symbol “NXT.”

The new brand will offer a number of product portfolios, including trackers, foundations, eBOS, advanced module frames, robotics, software, yield management and control systems, and services.

In other news, Nextracker Inc. (NASDAQ:NXT) reaffirmed its outlook for full-year 2026 and announced a target of hitting $4.8 billion to $5.6 billion in revenues by 2030. Of the total, approximately one-third is expected to come from sales of non-tracker products and services.

“Our multi-year financial targets reflect our confidence in Nextpower’s growth trajectory and the strength of our business model,” said CFO Chuck Boynton. “We expect to deliver continued top-line growth, expand cash generation, and fund ongoing investments in growth while maintaining healthy margins and a fortress balance sheet through disciplined execution and operational efficiency.”