T3 Companies LLC Purchases Shares of 25,300 NextNav Inc. $NN

T3 Companies LLC purchased a new position in shares of NextNav Inc. (NASDAQ:NN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 25,300 shares of the company’s stock, valued at approximately $421,000.

Several other hedge funds have also made changes to their positions in NN. Clearstead Advisors LLC purchased a new stake in shares of NextNav in the third quarter valued at $52,000. BNP Paribas Financial Markets lifted its position in NextNav by 64.4% during the second quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock worth $136,000 after buying an additional 3,493 shares during the period. Russell Investments Group Ltd. lifted its position in NextNav by 451.2% during the third quarter. Russell Investments Group Ltd. now owns 10,275 shares of the company’s stock worth $147,000 after buying an additional 8,411 shares during the period. Prudential Financial Inc. acquired a new stake in NextNav in the 2nd quarter worth about $162,000. Finally, Tower Research Capital LLC TRC boosted its stake in NextNav by 727.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,885 shares of the company’s stock worth $165,000 after buying an additional 9,570 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Trading Up 3.3%

NN stock opened at $21.55 on Thursday. The company has a market cap of $2.94 billion, a PE ratio of -17.81 and a beta of 1.04. The stock has a 50-day moving average price of $19.53 and a two-hundred day moving average price of $17.27. NextNav Inc. has a 12-month low of $10.87 and a 12-month high of $24.42.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.94 million. Equities analysts forecast that NextNav Inc. will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Tuesday, April 21st. UBS Group set a $25.00 target price on shares of NextNav in a report on Thursday, April 16th. Oppenheimer upped their price target on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NextNav presently has an average rating of “Hold” and an average price target of $37.50.

Insider Buying and Selling at NextNav

In other NextNav news, CFO Timothy Gray sold 1,405 shares of NextNav stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel James S. Black sold 9,429 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel owned 93,566 shares of the company’s stock, valued at approximately $1,681,381.02. This represents a 9.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,133 shares of company stock worth $1,943,851 in the last quarter. Company insiders own 7.80% 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.