Swiss National Bank Has $1.54 Million Stock Position in NextNav Inc. $NN

Swiss National Bank lifted its position in shares of NextNav Inc. (NASDAQ:NN) by 27.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,500 shares of the company’s stock after purchasing an additional 27,100 shares during the quarter. Swiss National Bank owned approximately 0.10% of NextNav worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NN. Vanguard Group Inc. raised its stake in shares of NextNav by 17.8% in the first quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company’s stock valued at $57,591,000 after purchasing an additional 715,171 shares in the last quarter. Ancora Advisors LLC increased its holdings in NextNav by 14.9% in the 4th quarter. Ancora Advisors LLC now owns 2,016,250 shares of the company’s stock valued at $31,373,000 after buying an additional 261,000 shares during the period. General American Investors Co. Inc. increased its holdings in NextNav by 31.0% in the 1st quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company’s stock valued at $13,633,000 after buying an additional 265,227 shares during the period. Northern Trust Corp raised its stake in shares of NextNav by 12.8% in the 4th quarter. Northern Trust Corp now owns 702,396 shares of the company’s stock valued at $10,929,000 after buying an additional 79,813 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of NextNav by 466.5% during the 4th quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock worth $10,238,000 after acquiring an additional 541,842 shares during the period. 79.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of NextNav to a “strong sell” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.00.

NextNav Stock Performance

Shares of NASDAQ:NN opened at $15.53 on Monday. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 14.97. The business’s fifty day moving average price is $15.09 and its two-hundred day moving average price is $13.13. NextNav Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $18.54. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.04 and a beta of 1.04.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.16). NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.59 million. As a group, analysts predict that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $14.38, for a total value of $1,004,486.14. Following the transaction, the chief executive officer directly owned 1,480,505 shares in the company, valued at $21,289,661.90. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by corporate insiders.

NextNav Company Profile

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.