NextNav Inc. (NASDAQ:NN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of NextNav Inc. (NASDAQ:NN) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $32.33.

Several equities research analysts have recently commented on NN shares. Clear Str raised NextNav to a “strong-buy” rating in a report on Monday, September 21st. Wells Fargo & Company reissued a “buy” rating on shares of NextNav in a research report on Monday, September 21st. Zacks Research lowered shares of NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Thursday, October 15th. Finally, Odeon Capital Group initiated coverage on shares of NextNav in a research note on Monday, July 20th. They issued a “buy” rating and a $22.00 target price for the company.

NextNav Trading Up 5.6%

NextNav stock opened at $11.91 on Wednesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of -12.28 and a beta of 1.16. The business has a 50-day moving average of $13.91 and a 200-day moving average of $16.44. NextNav has a 1 year low of $8.98 and a 1 year high of $24.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million. Research analysts anticipate that NextNav will post -0.46 EPS for the current fiscal year.

Insider Activity at NextNav

In other NextNav news, CFO Timothy Gray sold 11,099 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $14.64, for a total value of $162,489.36. Following the transaction, the chief financial officer directly owned 120,687 shares in the company, valued at $1,766,857.68. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $14.72, for a total transaction of $41,672.32. Following the sale, the chief executive officer owned 1,168,961 shares of the company’s stock, valued at $17,207,105.92. This trade represents a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders have sold 87,667 shares of company stock worth $1,331,153. Company insiders own 7.80% of the company’s stock.

Institutional Trading of NextNav

Institutional investors have recently bought and sold shares of the business. Sona Asset Management US LLC grew its position 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 in the last quarter. State Street Corp raised its holdings in NextNav by 4.8% in the 2nd quarter. State Street Corp now owns 2,343,255 shares of the company’s stock valued at $41,780,000 after acquiring an additional 108,338 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in NextNav in the 2nd quarter valued at $4,012,000. Squarepoint Ops LLC raised its stake in NextNav by 592.0% in the second quarter. Squarepoint Ops LLC now owns 113,073 shares of the company’s stock valued at $2,016,000 after purchasing an additional 96,734 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position 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 purchasing an additional 28,584 shares during the period. Institutional investors own 79.16% of the company’s stock.

NextNav Company Profile

NextNav Inc (NASDAQ:NN) develops positioning, navigation and timing technologies designed to provide reliable location information in environments where traditional GPS and satellite-based systems may be unavailable, inaccurate or vulnerable to disruption. The company’s services are intended for applications in communications, public safety, transportation, logistics, mapping and other industries that rely on precise location and timing data.

NextNav’s primary products include Pinnacle, a terrestrial network that provides three-dimensional positioning, including accurate altitude information, and TerraPoiNT, a terrestrial positioning, navigation and timing system designed to complement or serve as an alternative to GPS.