What Happened?
Shares of solar tracker company Nextpower (NASDAQ: NXT) jumped 4.7% in the afternoon session after the company announced a joint venture to build solar power plants in the Middle East and an analyst raised their price target.
Nextpower advised that it had entered into a joint venture with Abunayyan Holding to form Nextpower Arabia. The new entity aimed to speed up the manufacturing and use of large-scale solar power plants throughout the Middle East and North Africa. This move signaled a significant expansion for the company into a new market. Adding to the positive sentiment, B of A Securities maintained its 'Buy' rating on the stock and increased its price target to $108 from $102, pointing to an analyst's confidence in the company's future.
After the initial pop the shares cooled down to $105.21, up 4.6% from previous close.
Is now the time to buy Nextpower? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Nextpower’s shares are extremely volatile and have had 36 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 10 days ago when the stock gained 8.2% on the news that the company, formerly known as Nextracker, completed the formation of a joint venture in Saudi Arabia.
The venture, named Nextpower Arabia, was established with Abunayyan Holding to speed up the development of large-scale solar power plants in the Middle East and North Africa. The partnership also announced a new manufacturing facility for advanced solar tracker systems in Jeddah. The factory was under construction and was expected to open in the second quarter of 2026 with an annual production capacity of up to 12 gigawatts. This project involved an investment of around $88 million and was projected to create up to 2,000 jobs.
Nextpower is up 13.4% since the beginning of the year, and at $105.21 per share, it is trading close to its 52-week high of $111.84 from November 2025. Investors who bought $1,000 worth of Nextpower’s shares at the IPO in February 2023 would now be looking at an investment worth $3,454.
Microsoft, Alphabet, Coca-Cola, Monster Beverage—all began as under-the-radar growth stories riding a massive trend. We’ve identified the next one: a profitable AI semiconductor play Wall Street is still overlooking.Go here for access to our full report, it’s free.
