NextNav (NASDAQ:NN) Stock Price Up 9.4% – Still a Buy?
by Sarita Garza · The Markets DailyNextNav Inc. (NASDAQ:NN – Get Free Report) shares traded up 9.4% on Monday . The stock traded as high as $16.31 and last traded at $16.4150. 601,217 shares traded hands during trading, a decline of 57% from the average session volume of 1,412,853 shares. The stock had previously closed at $15.01.
Wall Street Analyst Weigh In
NN has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce”.
Check Out Our Latest Stock Analysis on NN
NextNav Stock Performance
The company’s 50-day simple moving average is $15.73 and its 200 day simple moving average is $14.99.
NextNav (NASDAQ:NN – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%. On average, sell-side analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.
Insider Buying and Selling at NextNav
In other news, CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $13.82, for a total transaction of $965,368.46. Following the completion of the sale, the chief executive officer directly owned 1,340,799 shares of the company’s stock, valued at $18,529,842.18. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total value of $25,594.24. Following the sale, the chief accounting officer owned 65,995 shares in the company, valued at $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 671,544 shares of company stock worth $8,402,907 in the last quarter. 7.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC bought a new stake in shares of NextNav in the 2nd quarter worth approximately $25,000. Clearstead Advisors LLC bought a new stake in shares of NextNav in the third quarter valued at $52,000. FWL Investment Management LLC bought a new stake in shares of NextNav in the second quarter valued at $70,000. BNP Paribas Financial Markets lifted its position in shares of NextNav by 64.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock valued at $136,000 after buying an additional 3,493 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of NextNav by 11.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock worth $137,000 after acquiring an additional 892 shares during the period. 79.16% of the stock is owned by 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.