Jim Cramer on Nextracker: “I’d Like to Have It Cool off a Little Bit”

Nextracker Inc. (NASDAQ:NXT) is one of the stocks Jim Cramer shed light on. A caller asked for Cramer’s opinion on the stock, and he replied:

“Oh man, you know we made… money in Nextracker for the Charitable Trust, but then we didn’t think that Shug had it in him to have a double. This company is a tremendous company… Still only sells at 24 times earnings. Parabolic move. I’d like to have it cool off a little bit, but wow, congratulations to Dan Shugar, who really just did it.”

Nextracker Inc. (NASDAQ:NXT) designs and supplies solar tracking systems and software that optimize energy generation for large-scale solar projects. A caller asked about the stock during the April 29 episode, and Cramer responded:

“Okay, I do believe, look, it had a good quarter. I did think that the president did not really care for wind, but this kind, he doesn’t mind this. This is technology all made in America, so I think you’re okay. Not great, not bad.”

It is worth noting that since the above comment, Nextracker Inc.’s (NASDAQ:NXT) stock has gained over 135%.

While we acknowledge the risk and potential of NXT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NXT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.