NextNav Inc. (NASDAQ:NN) Stock Has Consensus Price Target of $32.33 According to Analysts

Shares of NextNav Inc. (NASDAQ:NN) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $32.33.

NN has been the topic of several recent analyst reports. Wells Fargo & Company restated a “buy” rating on shares of NextNav in a research report on Monday, September 21st. Zacks Research lowered NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Odeon Capital Group began coverage on NextNav in a research note on Monday, July 20th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Wall Street Zen cut NextNav from a “hold” rating to a “sell” rating in a report on Sunday, September 27th.

Insider Activity

In other news, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $1,068,750.90. Following the completion of the transaction, the chief executive officer owned 1,171,792 shares of the company’s stock, valued at $17,928,417.60. The trade was a 5.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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, General Counsel James Black sold 1,878 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $15.34, for a total transaction of $28,808.52. Following the completion of the sale, the general counsel owned 89,810 shares in the company, valued at $1,377,685.40. This represents a 2.05% 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 87,667 shares of company stock worth $1,331,153 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GK Wealth Management LLC purchased a new position in NextNav in the 3rd quarter valued at about $29,000. KBC Group NV purchased a new stake in shares of NextNav during the first quarter worth about $38,000. Grove Bank & Trust acquired a new position in shares of NextNav in the second quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd raised its position in shares of NextNav by 732.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock valued at $69,000 after buying an additional 3,631 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of NextNav during the first quarter valued at approximately $231,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Stock Performance

NextNav stock opened at $12.35 on Friday. The company has a market cap of $2.08 billion, a P/E ratio of -12.73 and a beta of 1.16. NextNav has a one year low of $10.77 and a one year high of $24.42. The business has a fifty day moving average of $15.39 and a two-hundred day moving average of $17.13.

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

About NextNav

NextNav Inc develops positioning, navigation and timing technologies designed to provide accurate location information where traditional GPS may be unavailable, unreliable or insufficient. The company’s solutions are intended to support applications that require precise two-dimensional and three-dimensional geolocation, including public safety, wireless communications, mapping, transportation and critical infrastructure.

Its Pinnacle platform provides nationwide vertical-location services, enabling devices and networks to determine elevation or floor level in addition to latitude and longitude.