12 Best Booming Stocks to Invest in Now

5. Nextracker Inc. (NASDAQ:NXT)

Number of Hedge Fund Holdings: 32

Year-to-Date Performance as of January 30: 38.60%

Nextracker Inc. (NASDAQ:NXT) is a leading provider of solar tracking technology that maximizes the performance of solar panels by following the sun’s path throughout the day. The company has established itself as a key player in the industry by offering cutting-edge technologies that enhance the performance and reliability of utility-scale solar projects.

Nextracker Inc.’s (NASDAQ:NXT) stock has surged significantly year to date, driven by strong financial results and an upward revision of its fiscal year 2025 outlook. On January 28, the company reported its third-quarter 2025 earnings report, with a nearly threefold increase in profit attributable to shareholders, reaching $115.3 million compared to $41.4 million in the same period last year. While revenue declined 4.4% year-over-year to $679.4 million, the company’s results exceeded Wall Street expectations, fueled by strong demand across key regions and contributions from new product launches.

Nextracker Inc.’s (NASDAQ:NXT) order backlog, now reported to be approximately $5 billion, is supported by high demand and the successful launch of new products is also providing a strong foundation for future revenue growth. The company has revised its FY 2025 earnings guidance upward and is projecting a range of $467 million to $497 million. Adjusted earnings are now expected to be between $3.75 and $3.95 per share, well above the prior consensus estimate of $3.27.

The company’s strong performance and revised outlook have attracted favorable attention from analysts. Goldman Sachs reaffirmed its Buy rating, emphasizing the company’s continued execution and solid gross margins in the low 30% range. Barclays upgraded the stock to Overweight from Equal Weight, raising its price target from $47 to $60.