BlueCrest Capital Management Ltd Invests $4.01 Million in NextNav Inc. $NN

BlueCrest Capital Management Ltd acquired a new position in shares of NextNav Inc. (NASDAQ:NN) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 225,000 shares of the company’s stock, valued at approximately $4,012,000. BlueCrest Capital Management Ltd owned about 0.13% of NextNav at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NN. Caitong International Asset Management Co. Ltd grew its stake in NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after purchasing an additional 1,721 shares during the last quarter. KBC Group NV purchased a new stake in shares of NextNav during the first quarter valued at about $38,000. Grove Bank & Trust purchased a new stake in shares of NextNav during the second quarter valued at about $53,000. Kemnay Advisory Services Inc. bought a new stake in shares of NextNav in the 4th quarter valued at about $97,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of NextNav in the 4th quarter valued at about $109,000. Institutional investors own 79.16% of the company’s stock.

Analysts Set New Price Targets

NN has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Friday, July 17th. Wall Street Zen lowered shares of NextNav from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Odeon Capital Group assumed coverage on NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 price target on the stock. Oppenheimer upped their price target on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.33.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction that occurred on Thursday, September 3rd. The shares were 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 approximately $17,928,417.60. The trade was a 5.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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 sale, the chief accounting officer directly owned 70,944 shares in the company, valued at $1,265,640.96. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 76,567 shares of company stock valued at $1,199,531. 7.80% of the stock is owned by insiders.

NextNav Stock Performance

NextNav stock opened at $15.43 on Thursday. The business’s 50-day simple moving average is $15.54 and its two-hundred day simple moving average is $17.55. The company has a market cap of $2.60 billion, a PE ratio of -15.91 and a beta of 1.12. NextNav Inc. has a fifty-two week low of $10.87 and a fifty-two week high of $24.42.

NextNav (NASDAQ:NN) last announced its quarterly earnings data 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 net margin of 3,232.19% and a negative return on equity of 211.25%. The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $0.92 million. As a group, analysts predict that NextNav Inc. will post -0.46 EPS for the current fiscal year.

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.