NextNav (NASDAQ:NN) Shares Down 13.2% – Should You Sell?

NextNav Inc. (NASDAQ:NN)’s share price was down 13.2% during mid-day trading on Monday . The stock traded as low as $16.11 and last traded at $15.5060. Approximately 1,251,069 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 1,321,468 shares. The stock had previously closed at $17.87.

Wall Street Analyst Weigh In

Several research firms have issued reports on NN. Wall Street Zen cut NextNav from a “hold” rating to a “strong sell” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NextNav has an average rating of “Reduce”.

NextNav Trading Down 14.5%

The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -9.92 and a beta of 0.96. The company has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $15.32.

NextNav (NASDAQ:NN) last announced its earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The company had revenue of $0.95 million during the quarter, compared to analysts’ expectations of $0.86 million. NextNav had a negative net margin of 4,503.43% and a negative return on equity of 556.83%. As a group, analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy Gray sold 1,405 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.11, for a total value of $25,444.55. Following the completion of the sale, the chief financial officer owned 131,786 shares in the company, valued at $2,386,644.46. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sammaad Shams sold 3,945 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $19.54, for a total value of $77,085.30. Following the completion of the sale, the chief accounting officer directly owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. This trade represents a 5.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 101,133 shares of company stock worth $1,733,594. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in 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 acquiring an additional 1,721 shares in the last quarter. Clearstead Advisors LLC purchased a new position in NextNav during the 3rd quarter valued at about $52,000. FWL Investment Management LLC purchased a new position in NextNav during the 2nd quarter valued at about $70,000. Kemnay Advisory Services Inc. acquired a new position in shares of NextNav in the 4th quarter valued at about $97,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of NextNav in the fourth quarter worth approximately $109,000. 79.16% of the stock is owned by institutional investors and hedge funds.

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.