Nextpower Inc. (NASDAQ:NXT) stock is trading higher Wednesday after Truist Securities initiated coverage on the company with a Buy rating and a $140 price forecast on Tuesday.
Nextpower has a consensus price forecast of $136.74 based on the ratings of 26 analysts. This follows recent analyst actions, including Barclays raising its price forecast to $147 with an Overweight rating on July 7 and Susquehanna maintaining a Positive rating while lowering its price target to $168 on July 10.
Q1 Earnings On Horizon
Nextpower is scheduled to report its first-quarter earnings on July 30. Wall Street analysts estimate earnings per stock of $1 on quarterly revenue of $940.65 million. Nextpower enters the reporting period having beaten consensus earnings estimates for eight consecutive quarters.
European Expansion Progress
The stock’s momentum follows a June 22 announcement of a definitive agreement to acquire Germany-based Zimmermann PV-Steel Group for $378 million. Nextpower CEO Dan Shugar stated the transaction “represents the next chapter” for the company. The deal is expected to close in the second half of fiscal 2027, adding an estimated 300 million euros in annual revenue.
On CNBC’s “Mad Money Lightning Round” on July 7, host Jim Cramer praised the company’s leadership, stating, “I think I’ve lost the right to be able to say anything about that, because that’s Shugar’s company, Dan Shugar [CEO & founder of Nextpower], and we made money on it, but you know what, we left it way too soon,” adding, “That man is a miracle worker.”
Critical Levels To Watch For NXT Stock
From a longer-term trend view, NXT is still holding above its 200-day moving average ($107.68), which keeps the bigger-picture uptrend intact even after the recent pullback from the May peak. At the same time, the stock is trading 4.7% below its 20-day SMA ($114.55) and 12.3% below its 50-day SMA ($124.56), so the intermediate trend remains in "repair mode."
- Key Resistance: $130
- Key Support: $106
NXT Stock Price Activity: Nextpower shares were up 4.80% at $109.68 at the time of publication on Wednesday, according to Benzinga Pro data.
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