NextNav (NASDAQ:NN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of NextNav (NASDAQ:NN) from a strong sell rating to a hold rating in a research report report published on Saturday.

Several other research analysts have also recently issued reports on the stock. Oppenheimer upgraded shares of NextNav from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Thursday, April 16th. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. UBS Group set a $25.00 target price on shares of NextNav in a report on Thursday, April 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.00.

NextNav Price Performance

Shares of NextNav stock opened at $21.49 on Friday. NextNav has a 1 year low of $10.84 and a 1 year high of $24.19. The firm’s 50-day moving average is $18.00 and its two-hundred day moving average is $16.09. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -17.76 and a beta of 1.03.

NextNav (NASDAQ:NN) last issued its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.94 million. On average, equities analysts expect that NextNav will post -0.59 earnings per share for the current year.

Insider Activity

In other NextNav news, CFO Timothy Gray sold 1,405 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.11, for a total transaction of $25,444.55. Following the completion of the sale, the chief financial officer directly owned 131,786 shares of the company’s stock, valued at approximately $2,386,644.46. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sammaad Shams sold 3,945 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $19.54, for a total transaction of $77,085.30. Following the sale, the chief accounting officer directly owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 101,133 shares of company stock valued at $1,733,594. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of NextNav

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after buying an additional 1,721 shares during the last quarter. KBC Group NV purchased a new position in shares of NextNav in the 1st quarter valued at approximately $38,000. Clearstead Advisors LLC purchased a new position in shares of NextNav in the 3rd quarter valued at approximately $52,000. Kemnay Advisory Services Inc. purchased a new position in shares of NextNav in the 4th quarter valued at approximately $97,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of NextNav in the 4th quarter valued at approximately $109,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.