NextNav (NASDAQ:NN) Trading Down 5.2% – Should You Sell?

NextNav Inc. (NASDAQ:NN)’s share price traded down 5.2% during trading on Tuesday . The stock traded as low as $15.12 and last traded at $15.04. 452,690 shares traded hands during trading, a decline of 80% from the average session volume of 2,214,009 shares. The stock had previously closed at $15.87.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NN shares. Oppenheimer lifted their price objective on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of NextNav from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Zacks Research downgraded NextNav from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, Odeon Capital Group began coverage on NextNav in a research note on Monday, July 20th. They issued a “buy” rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.33.

NextNav Stock Performance

The company has a market cap of $2.62 billion, a P/E ratio of -15.98 and a beta of 1.10. The stock has a 50 day moving average price of $15.82 and a 200 day moving average price of $17.60.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. As a group, equities research analysts predict that NextNav Inc. will post -0.46 earnings per share for the current year.

Insider Activity

In other NextNav news, CEO Mariam Sorond sold 2,830 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $18.33, for a total transaction of $51,873.90. Following the sale, the chief executive officer owned 1,241,665 shares in the company, valued at approximately $22,759,719.45. The trade was a 0.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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, CAO Sammaad Shams sold 2,006 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $17.84, for a total transaction of $35,787.04. Following the sale, the chief accounting officer directly owned 70,944 shares of the company’s stock, valued at $1,265,640.96. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 sold a total of 6,714 shares of company stock valued at $130,780 over the last three months. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after acquiring an additional 1,721 shares in the last quarter. KBC Group NV acquired a new position in NextNav in the 1st quarter worth approximately $38,000. Grove Bank & Trust purchased a new position in NextNav during the 2nd quarter worth approximately $53,000. Kemnay Advisory Services Inc. acquired a new stake in NextNav during the 4th quarter valued at $97,000. Finally, Osterweis Capital Management Inc. acquired a new stake in NextNav during the 4th quarter valued at $109,000. 79.16% of the stock is owned by hedge funds and other 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.