Granahan Investment Management LLC Has $33.51 Million Position in Nextpower Inc. $NXT

Granahan Investment Management LLC reduced its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 384,710 shares of the company’s stock after selling 30,456 shares during the quarter. Nextpower makes up approximately 1.4% of Granahan Investment Management LLC’s portfolio, making the stock its 21st largest position. Granahan Investment Management LLC owned about 0.26% of Nextpower worth $33,512,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Nextpower by 2.0% during the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock valued at $1,048,279,000 after acquiring an additional 283,981 shares in the last quarter. State Street Corp raised its position in shares of Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after purchasing an additional 31,689 shares during the period. Geode Capital Management LLC raised its position in shares of Nextpower by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after purchasing an additional 236,593 shares during the period. Invesco Ltd. raised its position in shares of Nextpower by 9.9% in the third quarter. Invesco Ltd. now owns 2,725,449 shares of the company’s stock valued at $201,656,000 after purchasing an additional 245,412 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Nextpower by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock valued at $174,459,000 after purchasing an additional 67,362 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NXT shares. Needham & Company LLC reissued a “buy” rating and issued a $149.00 price target on shares of Nextpower in a research report on Friday, May 29th. TD Cowen boosted their target price on shares of Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Northland Securities boosted their target price on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. BNP Paribas Exane boosted their target price on shares of Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $170.00 target price on shares of Nextpower in a research report on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.77.

Insiders Place Their Bets

In related news, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the transaction, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at $28,205,581.56. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares of the company’s stock, valued at $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 168,574 shares of company stock valued at $22,559,770 over the last three months. Company insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

Shares of NASDAQ:NXT opened at $125.62 on Wednesday. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13. The company’s fifty day moving average is $124.90 and its 200-day moving average is $111.84. The company has a market capitalization of $18.88 billion, a PE ratio of 32.80, a P/E/G ratio of 2.98 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, analysts forecast that Nextpower Inc. will post 3.69 EPS for the current year.

Nextpower Company Profile

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.