NextNav (NASDAQ:NN) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of NextNav (NASDAQ:NN) from a hold rating to a sell rating in a report published on Sunday.

A number of other equities research analysts have also recently weighed in on NN. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Wednesday, October 8th. Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NextNav currently has an average rating of “Reduce”.

NextNav Stock Performance

NASDAQ NN opened at $12.72 on Friday. The company has a fifty day moving average of $14.17 and a two-hundred day moving average of $14.43. The company has a market capitalization of $1.72 billion, a PE ratio of -9.78 and a beta of 0.99. NextNav has a 1 year low of $9.05 and a 1 year high of $18.54. The company has a debt-to-equity ratio of 32.42, a current ratio of 11.53 and a quick ratio of 11.54.

NextNav (NASDAQ:NN) last posted its earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%.The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $1.13 million. As a group, analysts expect that NextNav will post -0.74 earnings per share for the current year.

Insider Transactions at NextNav

In related news, major shareholder Joseph D. Samberg sold 600,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $12.35, for a total value of $7,410,000.00. Following the completion of the sale, the insider owned 760,000 shares in the company, valued at $9,386,000. This trade represents a 44.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.70% of the company’s stock.

Institutional Trading of NextNav

A number of large investors have recently made changes to their positions in NN. Bank of New York Mellon Corp lifted its stake in shares of NextNav by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 219,024 shares of the company’s stock valued at $2,666,000 after buying an additional 11,565 shares during the period. Arizona State Retirement System raised its holdings in NextNav by 27.8% in the 1st quarter. Arizona State Retirement System now owns 18,709 shares of the company’s stock valued at $228,000 after acquiring an additional 4,064 shares during the last quarter. Greenhaven Road Investment Management L.P. purchased a new position in shares of NextNav during the 1st quarter worth $730,000. LPL Financial LLC boosted its holdings in shares of NextNav by 8.0% during the first quarter. LPL Financial LLC now owns 171,821 shares of the company’s stock worth $2,091,000 after purchasing an additional 12,718 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of NextNav during the first quarter worth $430,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

About NextNav

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.