Why Nextpower (NXT) Shares Are Rising Today

Recent Developments at Nextpower

Nextpower (NASDAQ:NXT), a company specializing in solar tracking technology, saw its stock price surge by 8.2% during the afternoon trading session. This uptick followed the announcement that the company, previously known as Nextracker, had finalized a joint venture in Saudi Arabia.

The new entity, Nextpower Arabia, was created in partnership with Abunayyan Holding to accelerate the rollout of large-scale solar energy projects across the Middle East and North Africa. As part of this collaboration, a state-of-the-art manufacturing plant for solar tracker systems is being built in Jeddah. The facility, which is currently under construction, is scheduled to open in the second quarter of 2026 and will have the capacity to produce up to 12 gigawatts annually. The project represents an investment of approximately $88 million and is expected to generate up to 2,000 new jobs.

By the end of the trading day, Nextpower’s shares closed at $99.09, reflecting an 8.3% increase from the previous closing price.

Market Reaction and Insights

Nextpower’s stock is known for its high volatility, having experienced 35 price swings exceeding 5% over the past year. Today’s significant movement suggests that investors view the joint venture news as important, though not transformative for the company’s overall outlook.

The last notable shift occurred 26 days ago, when the stock fell by 2.3% after Jefferies Financial Group downgraded its rating from "strong-buy" to "hold." Adding to the negative sentiment, David P. Bennett, Nextracker’s Chief Accounting Officer, recently sold 33,725 shares, totaling around $2.97 million. This decline also mirrored broader weakness in the solar industry, with several of Nextpower’s competitors also seeing their stocks drop.

Since the start of the year, Nextpower’s share price has climbed 6.9%. However, at $99.17 per share, it remains 11.3% below its 52-week high of $111.84, reached in November 2025. Investors who purchased $1,000 worth of shares at the company’s IPO in February 2023 would now see their investment grow to $3,256.

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