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

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

Several other analysts have also issued reports on the company. Weiss Ratings reissued 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 analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

NextNav Trading Down 1.8%

NN opened at $14.36 on Friday. The firm’s 50 day simple moving average is $15.62 and its two-hundred day simple moving average is $15.01. The company has a market capitalization of $1.94 billion, a PE ratio of -11.05 and a beta of 0.98. NextNav has a 1-year low of $9.05 and a 1-year high of $18.25.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $0.89 million during 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%. Equities analysts forecast that NextNav will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $13.82, for a total transaction of $965,368.46. Following the completion of the sale, the chief executive officer owned 1,340,799 shares in the company, valued at approximately $18,529,842.18. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of NextNav 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 sale, the chief accounting officer directly owned 65,995 shares in the company, valued at $1,071,758.80. This trade represents a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 671,544 shares of company stock worth $8,402,907. 7.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextNav

Several hedge funds have recently modified their holdings of NN. Keybank National Association OH bought a new position in shares of NextNav during the fourth quarter worth $378,000. M&T Bank Corp lifted its stake in NextNav by 17.1% in the 4th quarter. M&T Bank Corp now owns 12,906 shares of the company’s stock worth $215,000 after purchasing an additional 1,887 shares in the last quarter. UBS Group AG boosted its holdings in shares of NextNav by 35.0% during the 4th quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock valued at $33,144,000 after purchasing an additional 516,045 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NextNav by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock valued at $115,361,000 after purchasing an additional 573,214 shares during the last quarter. Finally, Leelyn Smith LLC purchased a new position in shares of NextNav during the fourth quarter valued at about $339,000. Hedge funds and other 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.