NextNav (NASDAQ:NN) Trading Up 7.7% – Here’s Why

NextNav Inc. (NASDAQ:NN)’s share price traded up 7.7% on Tuesday . The stock traded as high as $13.79 and last traded at $13.66. 1,314,160 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 2,090,668 shares. The stock had previously closed at $12.68.

Analyst Ratings Changes

Several research analysts have recently commented on NN shares. UBS Group set a $25.00 target price on shares of NextNav in a report on Thursday, April 16th. Zacks Research upgraded NextNav from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Odeon Capital Group started coverage on NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 price target on the stock. B. Riley Financial restated a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, NextNav has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

NextNav Trading Up 2.2%

The firm’s 50-day moving average price is $17.81 and its 200 day moving average price is $17.41. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -11.07 and a beta of 1.06.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.94 million. As a group, equities research analysts anticipate that NextNav Inc. will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NextNav news, General Counsel James S. Black sold 1,878 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $22.96, for a total value of $43,118.88. Following the sale, the general counsel owned 91,688 shares of the company’s stock, valued at approximately $2,105,156.48. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 2,830 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $18.33, for a total value of $51,873.90. Following the completion of the sale, the chief executive officer directly owned 1,241,665 shares in the company, valued at approximately $22,759,719.45. This represents a 0.23% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 76,567 shares of company stock worth $1,522,252 over the last three months. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

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