NextNav (NASDAQ:NN) Shares Up 11.8% – Still a Buy?

NextNav Inc. (NASDAQ:NN)’s share price was up 11.8% during mid-day trading on Thursday . The company traded as high as $17.05 and last traded at $17.0630. Approximately 531,605 shares traded hands during trading, a decline of 55% from the average daily volume of 1,169,401 shares. The stock had previously closed at $15.26.

Analyst Upgrades and Downgrades

NN has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Wednesday, October 8th. Wall Street Zen raised NextNav from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Zacks Research raised NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

NextNav Stock Performance

The company’s 50-day moving average is $15.14 and its 200-day moving average is $15.02. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -13.08 and a beta of 0.98.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, beating 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 firm had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $1.13 million. On average, analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 1,576 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the completion of the sale, the chief accounting officer owned 65,995 shares in the company, valued at $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $13.82, for a total value of $965,368.46. Following the transaction, the chief executive officer directly owned 1,340,799 shares in the company, valued at $18,529,842.18. This trade represents a 4.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 671,544 shares of company stock worth $8,402,907 in the last quarter. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AlphaQuest LLC acquired a new stake in shares of NextNav during the second quarter worth $25,000. Clearstead Advisors LLC bought a new position in NextNav during the third quarter worth about $52,000. FWL Investment Management LLC acquired a new position in shares of NextNav during the 2nd quarter worth about $70,000. BNP Paribas Financial Markets increased its stake in shares of NextNav by 64.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock valued at $136,000 after acquiring an additional 3,493 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of NextNav by 11.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock valued at $137,000 after acquiring an additional 892 shares during the period. Institutional investors and hedge funds 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.