NextNav Inc. (NN) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: NextNav has a consensus “Moderate Buy” rating from seven analysts, with an average 12-month price target of $32.33.
• Recent financial results fell short on earnings: The company reported a quarterly loss of $0.24 per share versus the expected loss of $0.16, although revenue of $1.15 million exceeded estimates.
• The stock has weakened while institutional ownership remains high: Shares opened at $11.91, below their 50-day and 200-day moving averages, while institutions own 79.16% of the company and insiders have recently sold shares primarily to cover tax obligations.

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $32.33.

A number of analysts have recently issued reports on NN shares. Zacks Research lowered shares of NextNav from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Wells Fargo & Company reiterated a "buy" rating on shares of NextNav in a research note on Monday, September 21st. Wall Street Zen cut NextNav from a "hold" rating to a "sell" rating in a research report on Sunday, September 27th. Clear Str upgraded NextNav to a "strong-buy" rating in a research report on Monday, September 21st. Finally, Odeon Capital Group began coverage on NextNav in a research note on Monday, July 20th. They set a "buy" rating and a $22.00 price objective for the company.

Insider Buying and Selling

In related news, General Counsel James S. Black sold 1,878 shares of NextNav stock in a transaction on Monday, September 14th. The stock was sold at an average price of $15.34, for a total transaction of $28,808.52. Following the completion of the sale, the general counsel owned 89,810 shares of the company's stock, valued at approximately $1,377,685.40. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CFO Timothy Gray sold 11,099 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $14.64, for a total transaction of $162,489.36. Following the transaction, the chief financial officer owned 120,687 shares in the company, valued at approximately $1,766,857.68. This trade represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 87,667 shares of company stock worth $1,331,153 in the last three months. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextNav

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in NextNav during the 3rd quarter worth about $430,000. Deltec Asset Management LLC bought a new position in shares of NextNav in the third quarter worth about $180,000. Sterling Capital Management LLC bought a new position in shares of NextNav in the third quarter worth about $49,000. Nisa Investment Advisors LLC acquired a new position in shares of NextNav during the third quarter worth approximately $147,000. Finally, Steel Grove Capital Advisors LLC acquired a new position in shares of NextNav during the third quarter worth approximately $344,000. Institutional investors own 79.16% of the company's stock.

NextNav Price Performance

NASDAQ NN opened at $11.91 on Wednesday. The business has a 50 day moving average price of $13.91 and a 200 day moving average price of $16.44. The company has a market capitalization of $2.01 billion, a P/E ratio of -12.28 and a beta of 1.16. NextNav has a 1-year low of $8.98 and a 1-year high of $24.42.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $0.92 million. On average, research analysts expect that NextNav will post -0.46 earnings per share for the current fiscal year.

About NextNav

NextNav Inc NASDAQ: NN develops positioning, navigation and timing technologies designed to provide reliable location information in environments where traditional GPS and satellite-based systems may be unavailable, inaccurate or vulnerable to disruption. The company's services are intended for applications in communications, public safety, transportation, logistics, mapping and other industries that rely on precise location and timing data.

NextNav's primary products include Pinnacle, a terrestrial network that provides three-dimensional positioning, including accurate altitude information, and TerraPoiNT, a terrestrial positioning, navigation and timing system designed to complement or serve as an alternative to GPS.

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