NextNav Inc. $NN Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in NextNav Inc. by 34.5% during the 1st quarter, now holding 468,748 shares valued at approximately $5.7 million.
• Institutional investors control 79.16% of NextNav's shares, with significant increases from firms like Ameriprise Financial and Deutsche Bank.
• NextNav has been assigned a "Hold" rating by analysts, with a consensus target price of $20.00, following a earnings miss and consecutive negative earnings per share.

Goldman Sachs Group Inc. grew its position in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 34.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,748 shares of the company's stock after purchasing an additional 120,123 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.35% of NextNav worth $5,705,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NN. Harbor Investment Advisory LLC increased its holdings in shares of NextNav by 331.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock valued at $26,000 after purchasing an additional 1,655 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of NextNav during the 1st quarter valued at approximately $73,000. GAMMA Investing LLC increased its holdings in shares of NextNav by 1,754.6% during the 1st quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock valued at $122,000 after purchasing an additional 9,510 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of NextNav by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after purchasing an additional 5,000 shares in the last quarter. Finally, DCF Advisers LLC purchased a new position in shares of NextNav during the 1st quarter valued at approximately $158,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Price Performance

Shares of NextNav stock traded down $0.26 during trading hours on Friday, reaching $17.07. 3,181,415 shares of the company's stock were exchanged, compared to its average volume of 1,567,972. NextNav Inc. has a 1 year low of $6.75 and a 1 year high of $18.54. The company has a market capitalization of $2.27 billion, a P/E ratio of -13.23 and a beta of 1.05. The business has a fifty day moving average of $15.78 and a two-hundred day moving average of $13.88. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 32.42.

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

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of NextNav to a "strong sell" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, NextNav presently has an average rating of "Hold" and an average target price of $20.00.

About NextNav

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.