NextNav Inc. (NASDAQ:NN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of NextNav Inc. (NASDAQ:NN) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $32.3333.

Several equities research analysts have recently weighed in on the stock. Oppenheimer boosted their target price on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Zacks Research upgraded NextNav from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Wall Street Zen raised NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group set a $25.00 price objective on NextNav in a research note on Thursday, April 16th.

Insider Activity

In other news, CAO Sammaad Shams sold 2,006 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $17.84, for a total value of $35,787.04. Following the completion of the sale, the chief accounting officer directly owned 70,944 shares in the company, valued at approximately $1,265,640.96. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, CEO Mariam Sorond sold 2,830 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $18.33, for a total value of $51,873.90. Following the sale, the chief executive officer directly owned 1,241,665 shares in the company, valued at approximately $22,759,719.45. This represents a 0.23% 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. In the last ninety days, insiders sold 76,567 shares of company stock worth $1,522,252. 7.80% of the stock is currently owned by insiders.

Institutional Trading of NextNav

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after buying an additional 1,721 shares during the last quarter. KBC Group NV bought a new stake in shares of NextNav during the 1st quarter valued at about $38,000. Grove Bank & Trust bought a new stake in shares of NextNav during the 2nd quarter valued at about $53,000. Kemnay Advisory Services Inc. acquired a new stake in NextNav during the fourth quarter worth about $97,000. Finally, Osterweis Capital Management Inc. acquired a new stake in NextNav during the fourth quarter worth about $109,000. 79.16% of the stock is owned by institutional investors and hedge funds.

NextNav Trading Up 1.5%

Shares of NASDAQ:NN opened at $19.51 on Friday. The company has a fifty day simple moving average of $16.50 and a 200 day simple moving average of $17.43. The firm has a market cap of $3.29 billion, a PE ratio of -20.11 and a beta of 1.10. NextNav has a 12-month low of $10.87 and a 12-month high of $24.42.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The business had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $0.92 million. As a group, equities research analysts forecast that NextNav will post -0.44 EPS for the current fiscal year.

NextNav Company Profile

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.