NextNav Inc. (NASDAQ:NN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of NextNav Inc. (NASDAQ:NN) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $32.3333.

Several brokerages have recently commented on NN. Wall Street Zen upgraded NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group set a $25.00 price objective on NextNav in a research note on Thursday, April 16th. Zacks Research raised shares of NextNav from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Odeon Capital Group initiated coverage on shares of NextNav in a research note on Monday, July 20th. They set a “buy” rating and a $22.00 target price for the company. Finally, Oppenheimer increased their target price on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd.

NextNav Stock Performance

NN opened at $12.44 on Monday. NextNav has a 1-year low of $10.87 and a 1-year high of $24.42. The company has a 50-day moving average of $18.38 and a 200-day moving average of $17.44. The company has a market capitalization of $1.70 billion, a P/E ratio of -10.28 and a beta of 1.06.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.94 million. As a group, sell-side analysts expect that NextNav will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other NextNav news, General Counsel James S. Black sold 1,878 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $22.96, for a total value of $43,118.88. Following the transaction, the general counsel owned 91,688 shares of the company’s stock, valued at $2,105,156.48. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $19.92, for a total value of $1,391,471.76. Following the completion of the transaction, the chief executive officer owned 1,244,495 shares of the company’s stock, valued at approximately $24,790,340.40. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 76,567 shares of company stock valued at $1,522,252. Company insiders own 7.80% of the company’s stock.

Institutional Trading of NextNav

Several hedge funds have recently made changes to their positions in NN. Van ECK Associates Corp lifted its stake in NextNav by 79.5% in the fourth quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company’s stock valued at $22,955,000 after buying an additional 611,179 shares during the last quarter. Susquehanna Advisors Group Inc. grew its position in shares of NextNav by 12.1% during the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after acquiring an additional 584,804 shares during the last quarter. Vanguard Group Inc. grew its position in shares of NextNav by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after acquiring an additional 573,214 shares during the last quarter. Philosophy Capital Management LLC acquired a new stake in shares of NextNav in the 3rd quarter worth about $7,791,000. Finally, UBS Group AG increased its holdings in shares of NextNav by 35.0% in the 4th quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock worth $33,144,000 after acquiring an additional 516,045 shares during the period. Institutional investors 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.