NextNav (NASDAQ:NN) Trading Up 11.8% – What’s Next?

Shares of NextNav Inc. (NASDAQ:NN) were up 11.8% during trading on Thursday . The stock traded as high as $17.05 and last traded at $17.0630. Approximately 531,605 shares were traded during trading, a decline of 55% from the average daily volume of 1,169,401 shares. The stock had previously closed at $15.26.

Analyst Upgrades and Downgrades

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

NextNav Stock Up 0.4%

The firm has a market cap of $2.30 billion, a P/E ratio of -13.14 and a beta of 0.98. The stock’s 50-day moving average is $15.33 and its 200-day moving average is $15.04.

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

Insider Activity at NextNav

In other news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $13.82, for a total transaction of $965,368.46. Following the sale, the chief executive officer directly owned 1,340,799 shares in the company, valued at approximately $18,529,842.18. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Joseph D. Samberg sold 600,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $12.35, for a total value of $7,410,000.00. Following the completion of the transaction, the insider owned 760,000 shares of the company’s stock, valued at $9,386,000. The trade was a 44.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 671,544 shares of company stock worth $8,402,907 over the last three months. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NextNav by 1.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock valued at $733,000 after purchasing an additional 714 shares in the last quarter. ProShare Advisors LLC lifted its holdings in NextNav by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 18,056 shares of the company’s stock valued at $274,000 after purchasing an additional 765 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in NextNav by 7.7% in the second 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 in the last quarter. Ameritas Investment Partners Inc. grew its stake in NextNav by 11.0% during the second quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock worth $137,000 after buying an additional 892 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of NextNav during the second quarter worth approximately $25,000. 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.