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 potential of NXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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