NextNav (NASDAQ:NN) Rating Increased to Hold at Wall Street Zen

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

NN has been the subject of a number of other reports. Zacks Research upgraded NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce”.

NextNav Stock Performance

Shares of NN stock opened at $16.79 on Friday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -12.92 and a beta of 0.99. NextNav has a 52-week low of $9.05 and a 52-week high of $18.25. The company has a quick ratio of 11.54, a current ratio of 11.53 and a debt-to-equity ratio of 32.42. The company’s 50 day moving average is $13.79 and its 200 day moving average is $14.72.

NextNav (NASDAQ:NN) last posted its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $0.89 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that NextNav will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 1,576 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the sale, the chief accounting officer owned 65,995 shares in the company, valued at approximately $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Joseph D. Samberg sold 600,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 760,000 shares in the company, valued at approximately $9,386,000. This trade represents a 44.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 671,544 shares of company stock worth $8,402,907 in the last ninety days. 7.70% of the stock is owned by insiders.

Institutional Trading of NextNav

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NextNav by 1.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock valued at $733,000 after purchasing an additional 714 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of NextNav by 4.4% during the second quarter. ProShare Advisors LLC now owns 18,056 shares of the company’s stock valued at $274,000 after buying an additional 765 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of NextNav by 7.7% during the second quarter. Nisa Investment Advisors LLC now owns 11,494 shares of the company’s stock valued at $175,000 after buying an additional 826 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of NextNav by 11.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock valued at $137,000 after acquiring an additional 892 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in NextNav by 15.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock worth $105,000 after acquiring an additional 898 shares during the last quarter. Hedge funds and other 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.