NextNav (NASDAQ:NN) Stock Price Up 11.9% – Time to Buy?

NextNav Inc. (NASDAQ:NN) shares rose 11.9% during mid-day trading on Thursday . The company traded as high as $23.84 and last traded at $24.1390. Approximately 919,640 shares traded hands during trading, a decline of 53% from the average daily volume of 1,955,325 shares. The stock had previously closed at $21.57.

Wall Street Analyst Weigh In

NN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Oppenheimer increased their price objective on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday. B. Riley Financial reaffirmed a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. UBS Group set a $25.00 price objective on shares of NextNav in a report on Thursday, April 16th. Finally, Wall Street Zen raised shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.50.

NextNav Stock Down 8.4%

The business’s fifty day moving average is $19.30 and its two-hundred day moving average is $17.05. The stock has a market capitalization of $2.95 billion, a PE ratio of -17.85 and a beta of 1.04.

NextNav (NASDAQ:NN) last posted its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.94 million. Sell-side analysts expect that NextNav Inc. will post -0.51 EPS for the current fiscal year.

Insider Activity

In other NextNav news, CFO Timothy Gray sold 1,405 shares of NextNav stock in a transaction on Friday, March 20th. The shares were sold at an average price of $18.11, for a total transaction of $25,444.55. Following the completion of the transaction, the chief financial officer directly owned 131,786 shares of the company’s stock, valued at $2,386,644.46. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel James S. Black sold 9,429 shares of NextNav stock in a transaction on Friday, March 20th. The stock was sold at an average price of $17.97, for a total transaction of $169,439.13. Following the transaction, the general counsel directly owned 93,566 shares of the company’s stock, valued at $1,681,381.02. The trade was a 9.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,133 shares of company stock valued at $1,943,851 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in NextNav by 1.2% during the first quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock worth $4,165,000 after buying an additional 3,028 shares during the period. Amundi boosted its stake in NextNav by 7.5% during the first quarter. Amundi now owns 43,703 shares of the company’s stock worth $700,000 after buying an additional 3,043 shares during the period. California State Teachers Retirement System boosted its stake in NextNav by 41.6% during the first quarter. California State Teachers Retirement System now owns 97,347 shares of the company’s stock worth $1,559,000 after buying an additional 28,584 shares during the period. Quantinno Capital Management LP purchased a new position in NextNav during the first quarter worth $364,000. Finally, Sona Asset Management US LLC boosted its stake in NextNav by 37.9% during the first quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock worth $8,354,000 after buying an additional 143,349 shares during the period. 79.16% of the stock is owned by hedge funds and other 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.