NextNav (NASDAQ:NN) Shares Down 6.2% – Should You Sell?

NextNav Inc. (NASDAQ:NN)’s share price fell 6.2% during trading on Tuesday . The stock traded as low as $16.56 and last traded at $16.5030. 300,688 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,267,098 shares. The stock had previously closed at $17.60.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Thursday. Wall Street Zen upgraded shares of NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One research 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 a consensus rating of “Reduce”.

NextNav Stock Performance

The company’s 50-day simple moving average is $15.43 and its two-hundred day simple moving average is $15.04. The firm has a market cap of $1.94 billion, a PE ratio of -11.07 and a beta of 0.98.

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

Insider Activity

In related news, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $13.82, for a total transaction of $965,368.46. Following the sale, the chief executive officer directly owned 1,340,799 shares in the company, valued at $18,529,842.18. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was 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 $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 sold a total of 671,544 shares of company stock worth $8,402,907 in the last quarter. 7.70% of the stock is owned by company insiders.

Institutional Trading of NextNav

A number of institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC purchased a new position in shares of NextNav in the 2nd quarter worth $25,000. Clearstead Advisors LLC purchased a new stake in shares of NextNav in the third quarter worth about $52,000. FWL Investment Management LLC bought a new position in NextNav during the second quarter valued at $70,000. BNP Paribas Financial Markets raised its holdings in NextNav by 64.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock valued at $136,000 after buying an additional 3,493 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position in NextNav by 11.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock worth $137,000 after purchasing an additional 892 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.