NextNav Inc. $NN Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in NextNav Inc. (NASDAQ:NN) by 6.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,933,030 shares of the company’s stock after acquiring an additional 115,261 shares during the period. Geode Capital Management LLC’s holdings in NextNav were worth $29,385,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. AlphaQuest LLC acquired a new position in shares of NextNav in the 2nd quarter valued at about $25,000. Harbor Investment Advisory LLC grew its holdings in NextNav by 71.0% during the second quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock worth $56,000 after acquiring an additional 1,530 shares during the period. Harbor Capital Advisors Inc. grew its holdings in NextNav by 15.0% during the second quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock worth $105,000 after acquiring an additional 898 shares during the period. DCF Advisers LLC purchased a new position in NextNav during the first quarter valued at approximately $158,000. Finally, Teacher Retirement System of Texas acquired a new position in NextNav in the second quarter valued at approximately $166,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NN shares. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research report on Wednesday, October 8th. Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wall Street Zen lowered shares of NextNav from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Insider Transactions at NextNav

In other news, major shareholder Joseph D. Samberg sold 600,000 shares of NextNav stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $12.35, for a total value of $7,410,000.00. Following the sale, the insider owned 760,000 shares in the company, valued at $9,386,000. This trade represents a 44.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is currently owned by insiders.

NextNav Stock Up 0.9%

NextNav stock opened at $13.97 on Friday. The company has a debt-to-equity ratio of 32.42, a current ratio of 11.53 and a quick ratio of 11.54. The stock has a market capitalization of $1.88 billion, a PE ratio of -10.75 and a beta of 0.99. The business has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $14.39. NextNav Inc. has a 12 month low of $9.05 and a 12 month high of $18.54.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating 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 net margin of 3,109.88% and a negative return on equity of 556.83%. On average, analysts anticipate that NextNav Inc. will post -0.74 EPS for the current fiscal year.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.