Wall Street Zen Downgrades NextNav (NASDAQ:NN) to Sell

NextNav (NASDAQ:NN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other brokerages also recently commented on NN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research note on Wednesday, October 8th. Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce”.

NextNav Stock Performance

Shares of NextNav stock opened at $12.61 on Friday. The business’s 50 day moving average price is $14.24 and its 200 day moving average price is $14.43. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -9.70 and a beta of 0.99. The company has a debt-to-equity ratio of 32.42, a quick ratio of 11.54 and a current ratio of 11.53. NextNav has a one year low of $9.05 and a one year high of $18.54.

NextNav (NASDAQ:NN) last issued its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%.The business had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. On average, research analysts predict that NextNav will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other NextNav news, major shareholder Joseph D. Samberg sold 600,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $12.35, for a total transaction of $7,410,000.00. Following the completion of the transaction, the insider owned 760,000 shares of the company’s stock, valued at $9,386,000. This trade represents a 44.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextNav

Several institutional investors have recently bought and sold shares of NN. Vanguard Group Inc. lifted its position in shares of NextNav by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,359,543 shares of the company’s stock worth $90,941,000 after purchasing an additional 40,814 shares in the last quarter. Susquehanna Advisors Group Inc. lifted its holdings in NextNav by 12.1% during the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after buying an additional 584,804 shares in the last quarter. Ancora Advisors LLC boosted its position in NextNav by 11.0% in the 1st quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company’s stock valued at $27,233,000 after buying an additional 221,486 shares during the period. Geode Capital Management LLC boosted its position in NextNav by 6.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock valued at $29,385,000 after buying an additional 115,261 shares during the period. Finally, Empyrean Capital Partners LP grew its stake in shares of NextNav by 21.7% in the first quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company’s stock worth $20,506,000 after acquiring an additional 300,000 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.