NextNav (NASDAQ:NN) Shares Down 5.2% – Should You Sell?

NextNav Inc. (NASDAQ:NN)’s stock price fell 5.2% during trading on Tuesday . The company traded as low as $15.12 and last traded at $15.04. Approximately 452,690 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,214,009 shares. The stock had previously closed at $15.87.

Analyst Ratings Changes

NN has been the topic of a number of research analyst reports. Odeon Capital Group assumed coverage on shares of NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 price objective on the stock. Wall Street Zen cut NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Oppenheimer upped their target price on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Zacks Research cut NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.33.

NextNav Stock Performance

The company has a market cap of $2.59 billion, a price-to-earnings ratio of -15.82 and a beta of 1.12. The stock’s fifty day moving average is $15.75 and its two-hundred day moving average is $17.59.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million. NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. On average, equities research analysts expect that NextNav Inc. will post -0.46 EPS for the current year.

Insider Activity at NextNav

In related news, CEO Mariam Sorond sold 2,830 shares of the stock in a transaction on Tuesday, June 16th. The stock was 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 of the company’s stock, valued at approximately $22,759,719.45. This represents a 0.23% decrease in their position. The transaction was disclosed in a filing 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, CAO Sammaad Shams sold 2,006 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $17.84, for a total value of $35,787.04. Following the transaction, the chief accounting officer owned 70,944 shares in the company, valued at approximately $1,265,640.96. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 have sold a total of 6,714 shares of company stock valued at $130,780 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in NextNav by 1,457.0% during the second quarter. California State Teachers Retirement System now owns 1,515,710 shares of the company’s stock worth $27,025,000 after purchasing an additional 1,418,363 shares during the last quarter. Van ECK Associates Corp increased its stake in NextNav by 79.5% in the 4th quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company’s stock valued at $22,955,000 after buying an additional 611,179 shares during the last quarter. Susquehanna Advisors Group Inc. lifted its position in shares of NextNav by 12.1% during the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after buying an additional 584,804 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of NextNav by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after buying an additional 573,214 shares in the last quarter. Finally, Philosophy Capital Management LLC purchased a new position in shares of NextNav in the 3rd quarter worth approximately $7,791,000. Hedge funds and other institutional investors 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.