NextNav (NASDAQ:NN) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of NextNav (NASDAQ:NN) from a hold rating to a sell rating in a research report report published on Saturday.

Several other brokerages have also recently issued reports on NN. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

NextNav Stock Down 1.8%

NASDAQ:NN opened at $14.36 on Friday. NextNav has a 52 week low of $9.05 and a 52 week high of $18.25. The stock’s fifty day moving average is $15.62 and its two-hundred day moving average is $15.00. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -11.05 and a beta of 0.98.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $1.13 million. On average, sell-side analysts expect that NextNav will post -0.74 EPS for the current fiscal year.

Insider Activity at NextNav

In other news, major shareholder Joseph D. Samberg purchased 58,457 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $11.86 per share, for a total transaction of $693,300.02. Following the completion of the purchase, the insider directly owned 9,745,600 shares of the company’s stock, valued at $115,582,816. The trade was a 0.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sammaad Shams sold 1,576 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total transaction of $25,594.24. Following the completion of the sale, the chief accounting officer directly owned 65,995 shares in the company, valued at approximately $1,071,758.80. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 671,544 shares of company stock valued at $8,402,907 over the last 90 days. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of NextNav

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Squarepoint Ops LLC lifted its position in NextNav by 419.1% in the second quarter. Squarepoint Ops LLC now owns 125,546 shares of the company’s stock valued at $1,908,000 after acquiring an additional 101,360 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in NextNav in the second quarter valued at $441,000. Ingalls & Snyder LLC boosted its stake in NextNav by 10.6% in the second quarter. Ingalls & Snyder LLC now owns 513,850 shares of the company’s stock valued at $7,811,000 after acquiring an additional 49,170 shares in the last quarter. Finally, DCF Advisers LLC grew its holdings in shares of NextNav by 53.8% during the second quarter. DCF Advisers LLC now owns 20,000 shares of the company’s stock worth $304,000 after purchasing an additional 7,000 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Company Profile

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.