Brokerages Set NextNav Inc. (NASDAQ:NN) Target Price at $32.33

Shares of NextNav Inc. (NASDAQ:NN) have received a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $32.3333.

NN has been the subject of a number of research reports. Odeon Capital Group began coverage on NextNav in a report on Monday. They set a “buy” rating and a $22.00 target price for the company. Wall Street Zen upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. B. Riley Financial reaffirmed a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Oppenheimer lifted their price objective on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th.

Insider Transactions at NextNav

In related news, General Counsel James S. Black sold 1,878 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $22.96, for a total transaction of $43,118.88. Following the sale, the general counsel owned 91,688 shares of the company’s stock, valued at $2,105,156.48. This represents a 2.01% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $19.92, for a total value of $1,391,471.76. Following the transaction, the chief executive officer owned 1,244,495 shares in the company, valued at approximately $24,790,340.40. This trade represents a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last ninety days, insiders have sold 76,567 shares of company stock valued at $1,522,252. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of NextNav

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its position in shares of NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after purchasing an additional 1,721 shares during the period. KBC Group NV bought a new stake in NextNav during the first quarter worth about $38,000. Grove Bank & Trust bought a new stake in NextNav during the second quarter worth about $53,000. Kemnay Advisory Services Inc. bought a new stake in NextNav during the fourth quarter worth about $97,000. Finally, Osterweis Capital Management Inc. acquired a new stake in NextNav during the fourth quarter worth about $109,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Trading Down 4.0%

NASDAQ:NN opened at $12.81 on Monday. The stock has a market cap of $1.75 billion, a P/E ratio of -10.59 and a beta of 1.06. The stock has a 50 day simple moving average of $18.75 and a 200 day simple moving average of $17.49. NextNav has a 1-year low of $10.87 and a 1-year high of $24.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.94 million. As a group, sell-side analysts forecast that NextNav will post -0.48 EPS for the current year.

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.