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,Wall Street Zen reports.

NN has been the subject of a number of other research reports. Zacks Research lowered NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Oppenheimer upped their price target on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research report on Friday, July 17th. Finally, Odeon Capital Group started coverage on NextNav in a report on Monday, July 20th. They issued a “buy” rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.33.

NextNav Stock Performance

Shares of NASDAQ NN opened at $14.22 on Friday. The firm’s 50 day moving average price is $15.29 and its 200-day moving average price is $17.46. The company has a market cap of $2.40 billion, a PE ratio of -14.66 and a beta of 1.12. NextNav has a 52-week low of $10.87 and a 52-week high of $24.42.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share 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 for the quarter, compared to the consensus estimate of $0.92 million. On average, analysts forecast that NextNav will post -0.46 earnings per share for the current fiscal year.

Insider Activity at NextNav

In other NextNav news, General Counsel James S. Black sold 1,878 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $15.34, for a total value of $28,808.52. Following the transaction, the general counsel directly owned 89,810 shares of the company’s stock, valued at approximately $1,377,685.40. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total value of $41,672.32. Following the sale, the chief executive officer owned 1,168,961 shares of the company’s stock, valued at approximately $17,207,105.92. This represents a 0.24% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 76,998 shares of company stock worth $1,181,378. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On NextNav

Institutional investors have recently made changes to their positions in the business. Cannell & Spears LLC grew its position in NextNav by 0.7% during the first quarter. Cannell & Spears LLC now owns 122,851 shares of the company’s stock valued at $1,961,000 after buying an additional 899 shares during the period. Greenhaven Road Investment Management L.P. boosted its stake in shares of NextNav by 3.3% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 62,000 shares of the company’s stock worth $1,032,000 after acquiring an additional 2,000 shares during the last quarter. ProShare Advisors LLC grew its position in shares of NextNav by 14.9% during the 4th quarter. ProShare Advisors LLC now owns 17,308 shares of the company’s stock valued at $288,000 after acquiring an additional 2,251 shares during the period. KBC Group NV bought a new stake in shares of NextNav during the 1st quarter valued at $38,000. Finally, Grove Bank & Trust purchased a new stake in shares of NextNav in the 2nd quarter worth $53,000. 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.