NextNav (NASDAQ:NN) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of NextNav (NASDAQ:NN) from a sell rating to a hold rating in a research report released on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

NextNav Stock Performance

Shares of NASDAQ NN opened at $16.33 on Friday. The firm’s 50 day moving average price is $15.79 and its 200-day moving average price is $15.21. The company has a market cap of $2.20 billion, a PE ratio of -12.56 and a beta of 0.96. NextNav has a 52-week low of $9.48 and a 52-week high of $18.25.

Insider Activity

In other news, CAO Sammaad Shams sold 1,576 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,071,758.80. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the completion of the sale, the chief executive officer owned 1,270,946 shares of the company’s stock, valued at $21,491,696.86. This represents a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 71,544 shares of company stock valued at $1,208,753 over the last quarter. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NextNav

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in NextNav by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock valued at $115,361,000 after buying an additional 573,214 shares during the last quarter. Susquehanna Advisors Group Inc. boosted its stake in shares of NextNav by 1.4% in the 4th quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company’s stock worth $91,226,000 after buying an additional 74,995 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NextNav by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company’s stock worth $37,754,000 after buying an additional 100,058 shares during the last quarter. State Street Corp grew its holdings in shares of NextNav by 1.9% in the fourth quarter. State Street Corp now owns 2,171,877 shares of the company’s stock worth $36,140,000 after acquiring an additional 40,762 shares during the period. Finally, Plustick Management LLC grew its holdings in shares of NextNav by 1.3% in the fourth quarter. Plustick Management LLC now owns 2,065,818 shares of the company’s stock worth $34,375,000 after acquiring an additional 25,818 shares during the period. Hedge funds and other institutional investors 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.