NextNav (NASDAQ:NN) Trading Up 5.5% – Here’s Why

NextNav Inc. (NASDAQ:NN)’s stock price rose 5.5% on Wednesday . The stock traded as high as $15.27 and last traded at $15.1190. Approximately 529,435 shares traded hands during trading, a decline of 63% from the average daily volume of 1,449,546 shares. The stock had previously closed at $14.33.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen raised shares of NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NextNav has a consensus rating of “Reduce”.

NextNav Stock Up 5.3%

The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -11.62 and a beta of 0.98. The company’s 50 day moving average price is $15.46 and its 200 day moving average price is $15.02.

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 company had revenue of $0.89 million during the quarter, compared to analyst estimates of $1.13 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%. As a group, analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity at NextNav

In other news, CAO Sammaad Shams sold 1,576 shares of the 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 sale, the chief accounting officer owned 65,995 shares in the company, valued at $1,071,758.80. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Joseph D. Samberg bought 58,457 shares of NextNav stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $11.86 per share, with a total value of $693,300.02. Following the acquisition, the insider owned 9,745,600 shares of the company’s stock, valued at $115,582,816. The trade was a 0.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 671,544 shares of company stock worth $8,402,907 over the last quarter. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

Institutional investors have recently added to or reduced their stakes in the stock. Leelyn Smith LLC purchased a new stake in shares of NextNav during the fourth quarter worth approximately $339,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NextNav by 21.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,409 shares of the company’s stock valued at $290,000 after buying an additional 3,040 shares in the last quarter. DDD Partners LLC acquired a new stake in NextNav during the fourth quarter worth about $265,000. Harbor Capital Advisors Inc. lifted its stake in shares of NextNav by 25.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 24,149 shares of the company’s stock valued at $402,000 after purchasing an additional 4,866 shares during the last quarter. Finally, Park Edge Advisors LLC purchased a new position in NextNav during the fourth quarter worth about $282,000. Institutional investors and hedge funds 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.