NextNav (NASDAQ:NN) Trading Down 6.5% – What’s Next?

NextNav Inc. (NASDAQ:NN)’s share price was down 6.5% during trading on Wednesday . The stock traded as low as $15.92 and last traded at $15.95. Approximately 810,429 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 1,221,329 shares. The stock had previously closed at $17.06.

Analyst Ratings Changes

NN has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of NextNav from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NextNav currently has a consensus rating of “Reduce”.

NextNav Trading Down 5.8%

The business’s fifty day moving average price is $15.82 and its 200 day moving average price is $15.17. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -12.36 and a beta of 0.96.

Insider Buying and Selling

In other NextNav news, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer directly owned 65,995 shares in the company, valued at approximately $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of NextNav

A number of hedge funds have recently added to or reduced their stakes in NN. Russell Investments Group Ltd. grew its stake in shares of NextNav by 6.6% in the 4th quarter. Russell Investments Group Ltd. now owns 10,950 shares of the company’s stock valued at $182,000 after purchasing an additional 675 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NextNav by 1.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock worth $733,000 after purchasing an additional 714 shares during the period. ProShare Advisors LLC grew its position in NextNav by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 18,056 shares of the company’s stock valued at $274,000 after buying an additional 765 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in NextNav by 7.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,494 shares of the company’s stock valued at $175,000 after buying an additional 826 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NextNav by 0.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,213 shares of the company’s stock worth $3,332,000 after buying an additional 863 shares during the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.