NextNav (NASDAQ:NN) Trading Down 6.7% – What’s Next?

NextNav Inc. (NASDAQ:NN) shares fell 6.7% on Monday . The company traded as low as $20.80 and last traded at $20.07. 124,111 shares were traded during trading, a decline of 94% from the average session volume of 1,986,671 shares. The stock had previously closed at $21.50.

Wall Street Analysts Forecast Growth

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

NextNav Stock Performance

The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -16.59 and a beta of 1.04. The business’s 50 day moving average price is $19.78 and its 200-day moving average price is $17.40.

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 business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.94 million. On average, analysts forecast that NextNav Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other news, CFO Timothy Gray sold 1,405 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.11, for a total value of $25,444.55. Following the transaction, the chief financial officer directly owned 131,786 shares in the company, valued at approximately $2,386,644.46. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sammaad Shams sold 3,945 shares of the firm’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total transaction of $77,085.30. Following the completion of the transaction, the chief accounting officer owned 72,950 shares in the company, valued at approximately $1,425,443. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 101,133 shares of company stock valued at $1,943,851. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of NextNav

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after purchasing an additional 1,721 shares during the last quarter. KBC Group NV bought a new stake in shares of NextNav in the 1st quarter worth approximately $38,000. Clearstead Advisors LLC bought a new stake in shares of NextNav in the 3rd quarter worth approximately $52,000. Kemnay Advisory Services Inc. bought a new stake in shares of NextNav in the 4th quarter worth approximately $97,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of NextNav in the 4th quarter worth approximately $109,000. 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.