Corton Capital Inc. Buys New Stake in NextNav Inc. $NN

Corton Capital Inc. acquired a new position in NextNav Inc. (NASDAQ:NN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,161 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NN. AlphaQuest LLC purchased a new position in shares of NextNav in the 2nd quarter worth $25,000. Harbor Investment Advisory LLC grew its stake in shares of NextNav by 71.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock worth $56,000 after buying an additional 1,530 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of NextNav by 15.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock worth $105,000 after buying an additional 898 shares in the last quarter. DCF Advisers LLC purchased a new position in shares of NextNav in the 1st quarter worth $158,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of NextNav in the 2nd quarter worth $166,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Trading Down 6.4%

NASDAQ NN opened at $11.98 on Wednesday. The company has a debt-to-equity ratio of 32.42, a quick ratio of 14.97 and a current ratio of 14.97. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -9.29 and a beta of 0.99. The company’s 50-day simple moving average is $15.06 and its two-hundred day simple moving average is $14.39. NextNav Inc. has a one year low of $9.05 and a one year high of $18.54.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.16). The business had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $1.59 million. NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. Equities analysts forecast that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NN has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.00.

NextNav Company Profile

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.