NextNav Inc. (NASDAQ:NN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of NextNav Inc. (NASDAQ:NN) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $32.33.

A number of research analysts recently commented on NN shares. Wells Fargo & Company reiterated a “buy” rating on shares of NextNav in a report on Monday, September 21st. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a research report on Sunday, September 27th. Clear Str raised NextNav to a “strong-buy” rating in a research note on Monday, September 21st. Zacks Research cut NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Odeon Capital Group initiated coverage on NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 price objective for the company.

NextNav Price Performance

Shares of NN stock opened at $13.98 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of -14.41 and a beta of 1.16. The firm’s 50-day moving average is $15.44 and its two-hundred day moving average is $17.30. NextNav has a 12 month low of $10.87 and a 12 month high of $24.42.

NextNav (NASDAQ:NN) last posted 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). The firm had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $0.92 million. NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. Sell-side analysts forecast that NextNav will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other NextNav news, CFO Timothy Gray sold 11,099 shares of NextNav stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $14.64, for a total transaction of $162,489.36. Following the completion of the sale, the chief financial officer directly owned 120,687 shares in the company, valued at $1,766,857.68. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel James Black sold 1,878 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $15.34, for a total transaction of $28,808.52. Following the completion of the sale, the general counsel directly owned 89,810 shares in the company, valued at $1,377,685.40. This trade represents a 2.05% 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. Insiders sold a total of 87,667 shares of company stock valued at $1,331,153 over the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Trading of NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. KBC Group NV acquired a new stake in shares of NextNav in the first quarter valued at $38,000. Grove Bank & Trust purchased a new stake in NextNav during the second quarter worth about $53,000. Caitong International Asset Management Co. Ltd boosted its stake 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 during the period. Sei Investments Co. purchased a new stake in NextNav during the 1st quarter worth approximately $231,000. Finally, Park Edge Advisors LLC lifted its holdings in NextNav by 33.2% during the 1st quarter. Park Edge Advisors LLC now owns 22,542 shares of the company’s stock worth $361,000 after buying an additional 5,614 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Company Profile

NextNav Inc develops positioning, navigation and timing technologies designed to provide accurate location information where traditional GPS may be unavailable, unreliable or insufficient. The company’s solutions are intended to support applications that require precise two-dimensional and three-dimensional geolocation, including public safety, wireless communications, mapping, transportation and critical infrastructure.

Its Pinnacle platform provides nationwide vertical-location services, enabling devices and networks to determine elevation or floor level in addition to latitude and longitude.