NextNav (NASDAQ:NN) Reaches New 52-Week High – What’s Next?

Shares of NextNav Inc. (NASDAQ:NN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.57 and last traded at $21.49, with a volume of 8251568 shares. The stock had previously closed at $16.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Oppenheimer raised NextNav from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Thursday. Wall Street Zen lowered NextNav from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. UBS Group set a $25.00 price target on NextNav in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NextNav has a consensus rating of “Hold” and a consensus target price of $25.00.

NextNav Stock Performance

The business has a 50 day moving average price of $16.90 and a two-hundred day moving average price of $15.34. The company has a market cap of $3.11 billion, a P/E ratio of -14.82 and a beta of 0.98.

NextNav (NASDAQ:NN) last released its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $0.95 million during the quarter, compared to the consensus estimate of $0.86 million. As a group, research analysts expect that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 3,945 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total value of $77,085.30. Following the completion of the sale, the chief accounting officer owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel James S. Black sold 9,429 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $17.97, for a total value of $169,439.13. Following the completion of the sale, the general counsel directly owned 93,566 shares of the company’s stock, valued at approximately $1,681,381.02. This trade represents a 9.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 101,133 shares of company stock worth $1,733,594. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in NextNav by 347.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after purchasing an additional 1,721 shares during the last quarter. Clearstead Advisors LLC bought a new position in NextNav during the 3rd quarter valued at approximately $52,000. Kemnay Advisory Services Inc. bought a new position in NextNav during the 4th quarter valued at approximately $97,000. Osterweis Capital Management Inc. bought a new position in NextNav during the 4th quarter valued at approximately $109,000. Finally, Kestra Advisory Services LLC bought a new position in NextNav during the 4th quarter valued at approximately $116,000. Institutional investors own 79.16% of the company’s stock.

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.