NextNav (NASDAQ:NN) Stock Price Down 8.8% – What’s Next?

Shares of NextNav Inc. (NASDAQ:NN) were down 8.8% during trading on Tuesday . The stock traded as low as $15.65 and last traded at $15.5050. Approximately 1,042,837 shares were traded during trading, a decline of 42% from the average daily volume of 1,795,409 shares. The stock had previously closed at $17.01.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Tuesday, April 21st. UBS Group set a $25.00 price objective on NextNav in a research report on Thursday, April 16th. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. Finally, Oppenheimer raised NextNav from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

NextNav Stock Performance

The company has a market capitalization of $2.52 billion, a P/E ratio of -12.03 and a beta of 0.98. The business’s fifty day simple moving average is $17.35 and its 200-day simple moving average is $15.62.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $0.95 million for the quarter, compared to the consensus estimate of $0.86 million. As a group, analysts forecast that NextNav Inc. will post -0.59 EPS for the current year.

Insider Transactions at NextNav

In related news, CAO Sammaad Shams sold 3,945 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $19.54, for a total transaction of $77,085.30. Following the completion of the transaction, the chief accounting officer directly owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total value of $1,181,214.23. Following the transaction, the chief executive officer owned 1,270,946 shares of the company’s stock, valued at $21,491,696.86. This represents a 5.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 101,133 shares of company stock valued at $1,733,594 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On NextNav

Several large investors have recently bought and sold shares of NN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NextNav by 8.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company’s stock valued at $579,000 after purchasing an additional 3,543 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of NextNav by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock valued at $5,705,000 after buying an additional 120,123 shares in the last quarter. Creative Planning lifted its holdings in shares of NextNav by 81.5% in the 2nd quarter. Creative Planning now owns 29,184 shares of the company’s stock valued at $444,000 after acquiring an additional 13,109 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of NextNav by 33.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 61,772 shares of the company’s stock valued at $939,000 after acquiring an additional 15,565 shares during the last quarter. Finally, Legal & General Group Plc grew its position in NextNav by 23.3% in the second quarter. Legal & General Group Plc now owns 68,946 shares of the company’s stock worth $1,048,000 after acquiring an additional 13,027 shares in the last quarter. Institutional investors own 79.16% of the company’s stock.

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.