Brokerages Set NextNav Inc. (NASDAQ:NN) PT at $32.33

NextNav Inc. (NASDAQ:NN) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $32.3333.

Several equities analysts have recently issued reports on the company. Zacks Research raised NextNav from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Friday, July 17th. B. Riley Financial reissued a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. Odeon Capital Group assumed coverage on shares of NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Wall Street Zen raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Insider Buying and Selling

In other NextNav news, General Counsel James S. Black sold 1,878 shares of NextNav stock in a transaction on Friday, June 12th. The shares were sold at an average price of $22.96, for a total transaction of $43,118.88. Following the completion of the sale, the general counsel owned 91,688 shares of the company’s stock, valued at approximately $2,105,156.48. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, CEO Mariam Sorond sold 2,830 shares of NextNav stock in a transaction on 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 directly owned 1,241,665 shares of the company’s stock, valued at $22,759,719.45. This represents a 0.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 76,567 shares of company stock valued at $1,522,252 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in NextNav by 6.6% during the fourth quarter. Russell Investments Group Ltd. now owns 10,950 shares of the company’s stock valued at $182,000 after purchasing an additional 675 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NextNav by 1.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock worth $733,000 after purchasing an additional 714 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in NextNav by 0.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,213 shares of the company’s stock worth $3,332,000 after purchasing an additional 863 shares during the period. Cannell & Spears LLC boosted its position in shares of NextNav by 0.7% during the first quarter. Cannell & Spears LLC now owns 122,851 shares of the company’s stock worth $1,961,000 after purchasing an additional 899 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after purchasing an additional 1,721 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Price Performance

NN stock opened at $17.33 on Friday. The company has a 50 day moving average price of $16.22 and a 200 day moving average price of $17.55. NextNav has a fifty-two week low of $10.87 and a fifty-two week high of $24.42. The stock has a market capitalization of $2.93 billion, a PE ratio of -17.87 and a beta of 1.10.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The firm 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 analysts expect that NextNav will post -0.51 earnings per share for the current fiscal year.

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.