NextNav (NASDAQ:NN) Trading 5.5% Higher – Time to Buy?

NextNav Inc. (NASDAQ:NN) rose 5.5% during trading on Wednesday . The stock traded as high as $15.27 and last traded at $15.1190. Approximately 529,435 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,449,546 shares. The stock had previously closed at $14.33.

Analysts Set New Price Targets

A number of analysts have weighed in on NN shares. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Wall Street Zen raised NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

NextNav Stock Up 5.3%

The firm has a fifty day moving average price of $15.46 and a 200-day moving average price of $15.02. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -11.62 and a beta of 0.98.

NextNav (NASDAQ:NN) last released its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. Equities research analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other news, major shareholder Joseph D. Samberg purchased 58,457 shares of the company’s stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $11.86 per share, for a total transaction of $693,300.02. Following the completion of the purchase, the insider directly owned 9,745,600 shares of the company’s stock, valued at $115,582,816. The trade was a 0.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 671,544 shares of company stock valued at $8,402,907. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NextNav by 8.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company’s stock valued at $579,000 after buying an additional 3,543 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of NextNav by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock valued at $5,705,000 after buying an additional 120,123 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of NextNav during the second quarter worth approximately $25,000. Ingalls & Snyder LLC increased its stake in shares of NextNav by 10.6% in the second quarter. Ingalls & Snyder LLC now owns 513,850 shares of the company’s stock worth $7,811,000 after buying an additional 49,170 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in NextNav by 7.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,494 shares of the company’s stock valued at $175,000 after acquiring an additional 826 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.