NextNav (NASDAQ:NN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NextNav (NASDAQ:NN) from a sell rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also issued reports on NN. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Friday, July 17th. Oppenheimer raised their price target on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Zacks Research cut shares of NextNav from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, Odeon Capital Group began coverage on NextNav in a report on Monday, July 20th. They set a “buy” rating and a $22.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NextNav presently has an average rating of “Moderate Buy” and an average price target of $32.33.

NextNav Stock Up 10.1%

NextNav stock opened at $15.66 on Friday. The stock has a 50-day simple moving average of $15.29 and a 200 day simple moving average of $17.45. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -16.14 and a beta of 1.12. NextNav has a 12-month low of $10.87 and a 12-month high of $24.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $1.15 million for the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%. As a group, sell-side analysts anticipate that NextNav will post -0.46 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mariam Sorond sold 2,831 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total transaction of $41,672.32. Following the completion of the sale, the chief executive officer directly owned 1,168,961 shares of the company’s stock, valued at $17,207,105.92. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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, CAO Sammaad Shams sold 2,006 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $17.84, for a total transaction of $35,787.04. Following the completion of the transaction, the chief accounting officer owned 70,944 shares in the company, valued at $1,265,640.96. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 78,574 shares of company stock valued at $1,204,451 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV bought a new stake in NextNav in the first quarter valued at about $38,000. Grove Bank & Trust acquired a new position in shares of NextNav during the 2nd quarter worth about $53,000. Caitong International Asset Management Co. Ltd grew its position in shares of NextNav by 732.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after buying an additional 3,631 shares during the period. Sei Investments Co. acquired a new position in shares of NextNav during the 1st quarter worth about $231,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of NextNav in the 4th quarter valued at about $245,000. 79.16% of the stock is currently owned by institutional investors.

About NextNav

NextNav Inc (NASDAQ: NN) is a positioning, navigation and timing technology company that develops alternatives and complements to GPS. Its services are designed to provide accurate location and timing information in environments where GPS signals may be weak, unavailable or unreliable, including indoors and in urban areas.

The company’s primary offerings include Pinnacle, a 3D geolocation service that provides precise vertical positioning, and TerraPoiNT, a terrestrial network designed to deliver resilient positioning, navigation and timing signals.