NextNav (NASDAQ:NN) Trading 7.5% Higher – Should You Buy?

NextNav Inc. (NASDAQ:NN) shares rose 7.5% on Monday . The company traded as high as $15.30 and last traded at $15.2910. 353,086 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,235,821 shares. The stock had previously closed at $14.22.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Odeon Capital Group assumed coverage on NextNav in a report on Monday, July 20th. They set a “buy” rating and a $22.00 price objective for the company. Wells Fargo & Company reissued a “buy” rating on shares of NextNav in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Finally, Wall Street Zen raised NextNav from a “sell” rating to a “hold” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

NextNav Stock Performance

The company has a market cap of $2.59 billion, a PE ratio of -15.80 and a beta of 1.12. The company’s 50 day moving average price is $15.29 and its 200-day moving average price is $17.45.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. The firm had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $0.92 million. Equities research analysts expect that NextNav Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling at NextNav

In other news, CAO Sammaad Shams sold 2,006 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $17.84, for a total transaction of $35,787.04. Following the transaction, the chief accounting officer owned 70,944 shares of the company’s stock, valued at $1,265,640.96. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 2,831 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total value of $41,672.32. Following the transaction, the chief executive officer directly owned 1,168,961 shares in the company, valued at $17,207,105.92. This represents a 0.24% decrease in their position. 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. Insiders have sold a total of 78,574 shares of company stock worth $1,204,451 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV bought a new stake in NextNav during the 1st quarter valued at $38,000. Grove Bank & Trust bought a new position in shares of NextNav in the second quarter worth $53,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of NextNav by 732.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after acquiring an additional 3,631 shares during the period. Sei Investments Co. purchased a new position in shares of NextNav in the first quarter valued at $231,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of NextNav in the fourth quarter valued at $245,000. Institutional investors own 79.16% of the company’s stock.

About NextNav

NextNav Inc (NASDAQ: NN) is a positioning, navigation and timing technology company that develops alternatives and complements to GPS. Its services are designed to provide accurate location and timing information in environments where GPS signals may be weak, unavailable or unreliable, including indoors and in urban areas.

The company’s primary offerings include Pinnacle, a 3D geolocation service that provides precise vertical positioning, and TerraPoiNT, a terrestrial network designed to deliver resilient positioning, navigation and timing signals.