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

Wall Street Zen upgraded shares of NextNav (NASDAQ:NN) from a sell rating to a hold rating in a research note released on Saturday morning.

NN has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Wednesday, October 8th. Zacks Research upgraded shares of 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NextNav has an average rating of “Reduce”.

NextNav Trading Down 0.7%

NextNav stock opened at $16.79 on Friday. NextNav has a 52 week low of $9.05 and a 52 week high of $18.25. The company has a debt-to-equity ratio of 32.42, a quick ratio of 11.54 and a current ratio of 11.53. The firm has a market capitalization of $2.26 billion, a PE ratio of -12.92 and a beta of 0.99. The business’s 50-day simple moving average is $13.79 and its 200-day simple moving average is $14.74.

NextNav (NASDAQ:NN) last released its earnings results 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 for 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%. Equities research analysts forecast that NextNav will post -0.74 earnings per share for the current year.

Insider Transactions at NextNav

In other news, CAO Sammaad Shams sold 1,576 shares of the company’s stock in a transaction that occurred on 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 $1,071,758.80. This represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $13.82, for a total transaction 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 $18,529,842.18. This represents a 4.95% decrease in their ownership of the stock. 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 90 days. Corporate 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 business. Vanguard Group Inc. boosted its position in NextNav by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,359,543 shares of the company’s stock worth $90,941,000 after purchasing an additional 40,814 shares during the period. Susquehanna Advisors Group Inc. lifted its stake in shares of NextNav by 12.1% during the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after buying an additional 584,804 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of NextNav by 11.0% during the 1st quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company’s stock worth $27,233,000 after buying an additional 221,486 shares during the period. Geode Capital Management LLC boosted its holdings in shares of NextNav by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock worth $29,385,000 after buying an additional 115,261 shares during the period. Finally, Empyrean Capital Partners LP grew its stake in NextNav by 21.7% in the 1st quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company’s stock valued at $20,506,000 after buying an additional 300,000 shares during the last quarter. 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.