Ingalls & Snyder LLC Acquires 49,170 Shares of NextNav Inc. $NN

Ingalls & Snyder LLC increased its position in NextNav Inc. (NASDAQ:NN) by 10.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 513,850 shares of the company’s stock after buying an additional 49,170 shares during the quarter. Ingalls & Snyder LLC’s holdings in NextNav were worth $7,811,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NN. AlphaQuest LLC purchased a new position in NextNav in the 2nd quarter worth approximately $25,000. Harbor Investment Advisory LLC increased its stake in NextNav by 71.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock worth $56,000 after purchasing an additional 1,530 shares during the period. Harbor Capital Advisors Inc. increased its stake in NextNav by 15.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock worth $105,000 after purchasing an additional 898 shares during the period. Golden State Wealth Management LLC increased its stake in NextNav by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company’s stock worth $122,000 after purchasing an additional 5,000 shares during the period. Finally, DCF Advisers LLC purchased a new position in NextNav in the 1st quarter worth approximately $158,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Price Performance

Shares of NN stock opened at $13.31 on Friday. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 32.42. The business’s fifty day moving average is $15.39 and its 200 day moving average is $14.32. NextNav Inc. has a twelve month low of $9.05 and a twelve month high of $18.54. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -10.32 and a beta of 1.00.

NextNav (NASDAQ:NN) last released its earnings results on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%.The company had revenue of $1.20 million during the quarter, compared to the consensus estimate of $1.59 million. Research analysts expect that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Analyst Ratings Changes

NN has been the topic of several research analyst reports. Zacks Research raised NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NextNav presently has an average rating of “Hold” and an average price target of $20.00.

NextNav Company Profile

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.