NextNav (NASDAQ:NN) Raised to “Hold” at Wall Street Zen

NextNav (NASDAQ:NN) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also recently weighed in on NN. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

NextNav Price Performance

Shares of NextNav stock opened at $16.79 on Friday. The firm has a market cap of $2.26 billion, a PE ratio of -12.92 and a beta of 0.99. The stock has a 50 day moving average of $13.79 and a 200 day moving average of $14.72. The company has a current ratio of 11.53, a quick ratio of 11.54 and a debt-to-equity ratio of 32.42. NextNav has a 12 month low of $9.05 and a 12 month high of $18.25.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $0.89 million for the quarter, compared to the consensus estimate of $1.13 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%. On average, research analysts expect that NextNav will post -0.74 EPS for the current fiscal year.

Insider Activity at NextNav

In related news, major shareholder Joseph D. Samberg sold 600,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $12.35, for a total value of $7,410,000.00. Following the sale, the insider directly owned 760,000 shares of the company’s stock, valued at $9,386,000. This represents a 44.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer owned 65,995 shares of the company’s stock, valued at $1,071,758.80. This trade represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 671,544 shares of company stock worth $8,402,907. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Institutional investors have recently modified their holdings of the stock. Interval Partners LP purchased a new stake in shares of NextNav in the first quarter valued at approximately $9,827,000. Vanguard Group Inc. raised its position in NextNav by 17.8% during the 1st 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. Susquehanna Advisors Group Inc. raised its position in NextNav by 12.1% during the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock valued at $77,325,000 after purchasing an additional 584,804 shares in the last quarter. Philosophy Capital Management LLC purchased a new stake in shares of NextNav in the 3rd quarter worth $7,791,000. Finally, Troluce Capital Advisors LLC bought a new position in shares of NextNav during the 1st quarter worth $5,132,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.