Renewable energy will be the predominant power source for data centers, Nextracker CEO says [CNBC]
Nextracker Inc. (NXT)
Company Research
Source: CNBC
The natural gas industry believes it is best positioned to fulfill the surging power demand from data centers, arguing that renewables aren't reliable enough to power these energy-hungry projects alone. But Dan Shugar, the CEO of Nextracker , said the low cost and rapid deployment of solar as well as the ambitious climate goals of Big Tech will make renewable energy the preferred power choice for data centers. Nextracker builds systems that allow solar panels to track the position of the sun, increasing the efficiency of renewable power plants. The company has beat Wall Street expectations for four straight quarters. Nextracker has a backlog of more than $4 billion and has shipped 100 gigawatts to date, twice the peak power load of California. Nextracker shares are up 19% year to date and 37% over the past two months. About 80% of Wall Street analysts who cover the company rate its stock as buy or overweight, according to FactSet. Nextracker Inc Shugar pointed to the more t
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News
- Is Now The Time To Put Nextracker (NASDAQ:NXT) On Your Watchlist? [Yahoo! Finance]Yahoo! Finance
- Nextracker Acquires Ojjo to Expand Utility-Scale Solar Tracker Foundations Business [Yahoo! Finance]Yahoo! Finance
- Nextracker Acquires Ojjo to Expand Utility-Scale Solar Tracker Foundations BusinessBusiness Wire
- Nextracker and Unimacts Dedicate Second Nevada Factory to Serve Solar Power Demand [Yahoo! Finance]Yahoo! Finance
- Nextracker and Unimacts Dedicate Second Nevada Factory to Serve Solar Power DemandBusiness Wire
NXT
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- 5/14/24 - Beat
NXT
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- 6/20/24 - Form 8-K
- 6/17/24 - Form 4
- 6/17/24 - Form 3
- NXT's page on the SEC website