NextNav (NASDAQ:NN) Shares Down 6.2% – Time to Sell?

NextNav Inc. (NASDAQ:NN) shares were down 6.2% during mid-day trading on Tuesday . The stock traded as low as $16.56 and last traded at $16.5030. Approximately 300,688 shares traded hands during trading, a decline of 76% from the average daily volume of 1,267,098 shares. The stock had previously closed at $17.60.

Wall Street Analyst Weigh In

NN has been the subject of a number of analyst reports. Wall Street Zen raised NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

NextNav Stock Performance

The stock has a market capitalization of $1.97 billion, a PE ratio of -11.25 and a beta of 0.98. The company’s 50-day moving average price is $15.57 and its 200 day moving average price is $15.02.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. The business had revenue of $0.89 million during the quarter, compared to analyst estimates of $1.13 million. Analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Joseph D. Samberg acquired 58,457 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $11.86 per share, for a total transaction of $693,300.02. Following the completion of the acquisition, the insider owned 9,745,600 shares in the company, valued at $115,582,816. This trade represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total transaction of $25,594.24. Following the sale, the chief accounting officer owned 65,995 shares in the company, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 671,544 shares of company stock valued at $8,402,907 over the last ninety days. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new position in shares of NextNav during the second quarter valued at $25,000. Clearstead Advisors LLC purchased a new position in shares of NextNav during the 3rd quarter worth $52,000. FWL Investment Management LLC purchased a new position in NextNav during the second quarter valued at $70,000. BNP Paribas Financial Markets lifted its position in shares of NextNav by 64.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock valued at $136,000 after buying an additional 3,493 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of NextNav by 11.0% in the second quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock worth $137,000 after purchasing an additional 892 shares during the period. 79.16% of the stock is owned by institutional investors.

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.