NextNav (NASDAQ:NN) Downgraded to “Sell” Rating by Wall Street Zen

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

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. Zacks Research raised NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

NextNav Trading Down 1.8%

Shares of NASDAQ:NN opened at $14.36 on Friday. The stock has a market capitalization of $1.94 billion, a P/E ratio of -11.05 and a beta of 0.98. The stock’s 50-day moving average price is $15.62 and its 200-day moving average price is $15.01. NextNav has a 12-month low of $9.05 and a 12-month high of $18.25.

NextNav (NASDAQ:NN) last issued its earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $0.89 million for the quarter, compared to the consensus estimate of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. As a group, research analysts predict that NextNav will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $13.82, for a total value of $965,368.46. Following the completion of the transaction, the chief executive officer directly owned 1,340,799 shares of the company’s stock, valued at approximately $18,529,842.18. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Joseph D. Samberg sold 600,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $12.35, for a total transaction of $7,410,000.00. Following the sale, the insider owned 760,000 shares in the company, valued at approximately $9,386,000. The trade was a 44.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 671,544 shares of company stock valued at $8,402,907. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

A number of large investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC purchased a new position in shares of NextNav in the 2nd quarter worth $25,000. Clearstead Advisors LLC purchased a new stake in NextNav during the third quarter valued at $52,000. FWL Investment Management LLC bought a new position in NextNav in the second quarter valued at about $70,000. BNP Paribas Financial Markets boosted its position in NextNav by 64.4% in the second quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock worth $136,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of NextNav by 11.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock valued at $137,000 after purchasing an additional 892 shares during the period. Institutional investors own 79.16% of the company’s stock.

NextNav Company Profile

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.