NextNav (NASDAQ:NN) Shares Up 11.8% – Still a Buy?

NextNav Inc. (NASDAQ:NN) shot up 11.8% during mid-day trading on Thursday . The company traded as high as $17.05 and last traded at $17.0630. 531,605 shares were traded during trading, a decline of 55% from the average session volume of 1,169,401 shares. The stock had previously closed at $15.26.

Analyst Ratings Changes

NN has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. Wall Street Zen raised NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Zacks Research raised NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NextNav currently has a consensus rating of “Reduce”.

NextNav Price Performance

The company’s 50-day moving average price is $15.14 and its 200-day moving average price is $15.02. The company has a market cap of $2.29 billion, a P/E ratio of -13.08 and a beta of 0.98.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. On average, equities research analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Transactions at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $13.82, for a total transaction of $965,368.46. Following the completion of the transaction, the chief executive officer directly owned 1,340,799 shares in the company, valued at approximately $18,529,842.18. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 65,995 shares in the company, valued at approximately $1,071,758.80. This represents a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 671,544 shares of company stock valued at $8,402,907 over the last three months. Company insiders own 7.70% of the company’s stock.

Institutional Trading of NextNav

Institutional investors have recently made changes to their positions in the business. AlphaQuest LLC acquired a new position in NextNav during the second quarter worth $25,000. Clearstead Advisors LLC acquired a new stake in NextNav in the 3rd quarter valued at $52,000. FWL Investment Management LLC bought a new stake in NextNav during the 2nd quarter worth about $70,000. BNP Paribas Financial Markets boosted its stake in shares of NextNav by 64.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock worth $136,000 after buying an additional 3,493 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of NextNav by 11.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock valued at $137,000 after acquiring an additional 892 shares in the last quarter. 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.