NextNav (NASDAQ:NN) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of NextNav (NASDAQ:NN – Free Report) from a hold rating to a sell rating in a research report report published on Sunday,Wall Street Zen reports.

NN has been the subject of a number of other research reports. Oppenheimer boosted their target price on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Odeon Capital Group assumed coverage on NextNav in a report on Monday, July 20th. They issued a “buy” rating and a $22.00 price target on the stock. Clear Str upgraded NextNav to a “strong-buy” rating in a research report 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, Wells Fargo & Company restated a “buy” rating on shares of NextNav in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NextNav has a consensus rating of “Moderate Buy” and an average target price of $32.33.

View Our Latest Analysis on NN

NextNav Price Performance

NN opened at $13.89 on Friday. The stock has a market capitalization of $2.34 billion, a P/E ratio of -14.32 and a beta of 1.12. The company’s 50 day simple moving average is $15.36 and its 200-day simple moving average is $17.37. NextNav has a one year low of $10.87 and a one year high of $24.42.

NextNav (NASDAQ:NN – Get Free Report) last posted its quarterly earnings data 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). NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%.The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. As a group, analysts anticipate that NextNav will post -0.46 EPS for the current year.

Insider Transactions at NextNav

In other news, General Counsel James Black sold 1,878 shares of NextNav stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $15.34, for a total transaction of $28,808.52. Following the transaction, the general counsel owned 89,810 shares in the company, valued at $1,377,685.40. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, CEO Mariam Sorond sold 2,831 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total value of $41,672.32. Following the completion of the transaction, the chief executive officer owned 1,168,961 shares of the company’s stock, valued at $17,207,105.92. This represents a 0.24% 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 have 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 Investors Weigh In On NextNav

Large investors have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in shares of NextNav during the first quarter worth $38,000. Grove Bank & Trust acquired a new position in NextNav in the 2nd quarter worth $53,000. Caitong International Asset Management Co. Ltd boosted its stake in NextNav by 732.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after purchasing an additional 3,631 shares during the period. Sei Investments Co. bought a new position in NextNav during the 1st quarter worth about $231,000. Finally, Bleakley Financial Group LLC bought a new position in NextNav during the 4th quarter worth about $245,000. Institutional investors own 79.16% of the company’s stock.

About NextNav

(Get Free Report)

NextNav Inc (NASDAQ: NN) is a positioning, navigation and timing technology company that develops alternatives and complements to GPS. Its services are designed to provide accurate location and timing information in environments where GPS signals may be weak, unavailable or unreliable, including indoors and in urban areas.

The company’s primary offerings include Pinnacle, a 3D geolocation service that provides precise vertical positioning, and TerraPoiNT, a terrestrial network designed to deliver resilient positioning, navigation and timing signals.

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