T3 Companies LLC Makes New Investment in NextNav Inc. $NN

T3 Companies LLC purchased a new position in shares of NextNav Inc. (NASDAQ:NN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,300 shares of the company’s stock, valued at approximately $421,000.

A number of other large investors have also made changes to their positions in NN. Clearstead Advisors LLC purchased a new stake in NextNav during the third quarter worth about $52,000. BNP Paribas Financial Markets increased its holdings in NextNav by 64.4% in the second 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 in the last quarter. Russell Investments Group Ltd. lifted its position in shares of NextNav by 451.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,275 shares of the company’s stock valued at $147,000 after acquiring an additional 8,411 shares during the period. Prudential Financial Inc. purchased a new stake in shares of NextNav during the 2nd quarter worth approximately $162,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of NextNav by 727.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,885 shares of the company’s stock worth $165,000 after acquiring an additional 9,570 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Price Performance

Shares of NextNav stock opened at $21.55 on Thursday. NextNav Inc. has a 1 year low of $10.87 and a 1 year high of $24.42. The company has a market capitalization of $2.94 billion, a P/E ratio of -17.81 and a beta of 1.04. The business has a 50 day moving average price of $19.53 and a 200 day moving average price of $17.27.

NextNav (NASDAQ:NN) last announced its earnings results on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.94 million. As a group, research analysts expect that NextNav Inc. will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NN. UBS Group set a $25.00 price objective on NextNav in a research note on Thursday, April 16th. B. Riley Financial reissued a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research report on Tuesday, April 21st. Oppenheimer lifted their price target on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.50.

Insider Buying and Selling

In related news, CFO Timothy Gray sold 1,405 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.11, for a total transaction of $25,444.55. Following the sale, the chief financial officer owned 131,786 shares of the company’s stock, valued at $2,386,644.46. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sammaad Shams sold 3,945 shares of NextNav stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total value of $77,085.30. Following the sale, the chief accounting officer owned 72,950 shares of the company’s stock, valued at approximately $1,425,443. This represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 101,133 shares of company stock worth $1,943,851 in the last ninety days. 7.80% of the stock is currently owned by insiders.

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.