Interval Partners LP Makes New Investment in NextNav Inc. $NN

Key Points

• Interval Partners LP has made a significant investment in NextNav Inc., purchasing approximately 807,508 shares valued at $9.83 million, which represents about 0.61% of the company.
• NextNav reported a loss of $0.30 per share for the last quarter, missing estimates, and had a negative net margin of 2,678.59%.
• The stock currently has a market cap of $2.11 billion, with a price-to-earnings ratio of -12.30, and is facing a range of analyst ratings, with Zacks Research now rating it as a "strong sell."

Interval Partners LP bought a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 807,508 shares of the company's stock, valued at approximately $9,827,000. Interval Partners LP owned 0.61% of NextNav as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ancora Advisors LLC increased its position in NextNav by 11.0% in the first quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company's stock worth $27,233,000 after purchasing an additional 221,486 shares during the period. Empyrean Capital Partners LP lifted its position in shares of NextNav by 21.7% during the 1st quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company's stock worth $20,506,000 after buying an additional 300,000 shares during the last quarter. Troluce Capital Advisors LLC acquired a new position in NextNav in the 1st quarter worth about $5,132,000. Paloma Partners Management Co acquired a new stake in NextNav in the first quarter valued at $913,000. Finally, MAI Capital Management lifted its stake in shares of NextNav by 2,376.9% in the first quarter. MAI Capital Management now owns 49,537 shares of the company's stock worth $603,000 after acquiring an additional 47,537 shares during the period. 79.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $14.38, for a total value of $1,004,486.14. Following the transaction, the chief executive officer directly owned 1,480,505 shares in the company, valued at $21,289,661.90. This represents a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded 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's stock. According to data from MarketBeat.com, NextNav has a consensus rating of "Hold" and a consensus target price of $20.00.

NextNav Trading Up 4.9%

Shares of NASDAQ:NN traded up $0.77 during trading hours on Tuesday, hitting $16.55. 1,963,352 shares of the company's stock traded hands, compared to its average volume of 1,348,765. The firm has a market capitalization of $2.20 billion, a P/E ratio of -12.83 and a beta of 1.05. The business has a fifty day moving average price of $15.58 and a 200-day moving average price of $13.50. NextNav Inc. has a 1 year low of $6.75 and a 1 year high of $18.54. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 14.97.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. The business had revenue of $1.20 million during the quarter, compared to the consensus estimate of $1.59 million. Equities analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

NextNav Profile

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.