NextNav (NASDAQ:NN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NextNav (NASDAQ:NN) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also recently issued reports on NN. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

NextNav Trading Up 2.8%

NASDAQ NN opened at $17.26 on Friday. NextNav has a 12 month low of $9.05 and a 12 month high of $18.25. The stock has a 50-day simple moving average of $13.87 and a 200 day simple moving average of $14.80. The company has a current ratio of 11.53, a quick ratio of 11.54 and a debt-to-equity ratio of 32.42. The company has a market capitalization of $2.33 billion, a PE ratio of -13.28 and a beta of 0.99.

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

Insider Transactions at NextNav

In other NextNav news, major shareholder Joseph D. Samberg bought 58,457 shares of the stock in a transaction dated Friday, November 21st. The stock was purchased at an average cost of $11.86 per share, for a total transaction of $693,300.02. Following the completion of the acquisition, the insider owned 9,745,600 shares of the company’s stock, valued at approximately $115,582,816. This trade represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer owned 65,995 shares of the company’s stock, valued at $1,071,758.80. The trade was a 2.33% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 671,544 shares of company stock worth $8,402,907. 7.70% of the stock is currently owned by insiders.

Institutional Trading of NextNav

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in NextNav by 0.6% in the third quarter. Vanguard Group Inc. now owns 6,359,543 shares of the company’s stock worth $90,941,000 after acquiring an additional 40,814 shares during the period. Susquehanna Advisors Group Inc. raised its holdings in NextNav by 12.1% in the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after purchasing an additional 584,804 shares during the period. Ancora Advisors LLC grew its holdings in NextNav by 11.0% during the first quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company’s stock valued at $27,233,000 after purchasing an additional 221,486 shares during the period. Geode Capital Management LLC increased its position in NextNav by 6.3% in the second quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock worth $29,385,000 after buying an additional 115,261 shares in the last quarter. Finally, Empyrean Capital Partners LP raised its stake in shares of NextNav by 21.7% in the first quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company’s stock worth $20,506,000 after buying an additional 300,000 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.