NextNav Inc. (NASDAQ:NN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NextNav Inc. (NASDAQ:NN) have been given an average rating of “Hold” by the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $32.3333.

A number of equities research analysts have commented on the stock. Odeon Capital Group initiated coverage on shares of NextNav in a research report on Monday, July 20th. They issued a “buy” rating and a $22.00 target price for the company. Zacks Research cut NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Oppenheimer lifted their price objective on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Friday, July 17th.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,171,792 shares in the company, valued at $17,928,417.60. The trade was a 5.63% decrease in their position. The transaction was disclosed in a document filed 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, CAO Sammaad Shams sold 2,006 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $17.84, for a total transaction of $35,787.04. Following the sale, the chief accounting officer directly owned 70,944 shares of the company’s stock, valued at $1,265,640.96. The trade was a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 own 7.80% of the company’s stock.

Institutional Trading of NextNav

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cannell & Spears LLC lifted its position in NextNav by 0.7% during the first quarter. Cannell & Spears LLC now owns 122,851 shares of the company’s stock valued at $1,961,000 after purchasing an additional 899 shares in the last quarter. M&T Bank Corp increased its position in NextNav by 17.1% in the fourth quarter. M&T Bank Corp now owns 12,906 shares of the company’s stock worth $215,000 after buying an additional 1,887 shares in the last quarter. Greenhaven Road Investment Management L.P. increased its position in NextNav by 3.3% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 62,000 shares of the company’s stock worth $1,032,000 after buying an additional 2,000 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of NextNav by 14.9% in the fourth quarter. ProShare Advisors LLC now owns 17,308 shares of the company’s stock worth $288,000 after buying an additional 2,251 shares during the period. Finally, KBC Group NV bought a new position in shares of NextNav in the first quarter worth about $38,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Up 2.4%

Shares of NASDAQ NN opened at $15.54 on Tuesday. The firm’s 50-day moving average price is $15.45 and its 200-day moving average price is $17.52. NextNav has a 52-week low of $10.87 and a 52-week high of $24.42. The company has a market cap of $2.62 billion, a PE ratio of -16.02 and a beta of 1.12.

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

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.