On June 23, Nextracker fell 6.12% in pre-market trading, trading at $121.17/share, with turnover of $267,200.

On the news front, during the Intersolar Europe exhibition in Munich, the company announced it has signed a definitive agreement to acquire German photovoltaic technology supplier Zimmermann PV-Steel Group for up to approximately EUR 330 million. The transaction is expected to close in the second half of fiscal year 2027, and is projected to add approximately EUR 300 million in revenue while granting the company direct access to 15 new country markets. Zimmermann operates over 2,500 solar projects across 58 countries globally.

Market concerns center on the significant cash expenditure and potential share dilution associated with the large-scale acquisition. Additionally, the broader Electrical Components & Equipment sector exhibited notable weakness, with Vertiv Holdings down 6.38%, nVent Electric down 4.90%, and Eaton Corp down 3.83%, adding further pressure on the stock.

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