NextNav (NASDAQ:NN) Upgraded at Wall Street Zen

NextNav (NASDAQ:NN) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

NextNav Stock Performance

Shares of NASDAQ NN opened at $16.33 on Friday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -12.56 and a beta of 0.96. NextNav has a fifty-two week low of $9.48 and a fifty-two week high of $18.25. The firm’s 50-day simple moving average is $15.79 and its 200 day simple moving average is $15.20.

Insider Buying and Selling at NextNav

In other NextNav news, CAO Sammaad Shams sold 1,576 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total value of $1,181,214.23. Following the completion of the transaction, the chief executive officer owned 1,270,946 shares of the company’s stock, valued at $21,491,696.86. This trade represents a 5.21% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 71,544 shares of company stock worth $1,208,753. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its position in shares of NextNav by 732.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock valued at $69,000 after purchasing an additional 3,631 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in NextNav by 104.7% during the 4th quarter. Corient Private Wealth LLC now owns 35,042 shares of the company’s stock worth $583,000 after purchasing an additional 17,921 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in NextNav by 57.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 99,942 shares of the company’s stock worth $1,663,000 after purchasing an additional 36,563 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in NextNav in the 4th quarter worth about $481,000. Finally, Osterweis Capital Management Inc. bought a new position in NextNav in the 4th quarter worth about $109,000. 79.16% of the stock is owned by institutional investors.

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.