Ancora Advisors LLC Has $27.23 Million Stock Holdings in NextNav Inc. $NN

Key Points

• Ancora Advisors LLC increased its position in NextNav Inc. by 11.0% during Q1, owning approximately 1.69% of the company worth about $27 million.
• CEO Mariam Sorond sold 69,853 shares at an average price of $14.38, resulting in a total transaction value of over $1 million, reducing her ownership by 4.51%.
• NextNav reported a quarterly loss of ($0.30) earnings per share, missing analysts' expectations, with a revenue of $1.20 million compared to the projected $1.59 million.

Ancora Advisors LLC raised its position in NextNav Inc. (NASDAQ:NN - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,237,736 shares of the company's stock after acquiring an additional 221,486 shares during the quarter. Ancora Advisors LLC owned approximately 1.69% of NextNav worth $27,233,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC raised its stake in shares of NextNav by 331.0% during the first quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock worth $26,000 after purchasing an additional 1,655 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in NextNav in the first quarter worth $73,000. GAMMA Investing LLC increased its position in shares of NextNav by 1,754.6% in the first quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock valued at $122,000 after buying an additional 9,510 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of NextNav by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after acquiring an additional 5,000 shares during the last quarter. Finally, DCF Advisers LLC acquired a new stake in shares of NextNav during the first quarter valued at $158,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

Insider Buying and Selling

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 transaction of $1,004,486.14. Following the transaction, the chief executive officer directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. This represents a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research upgraded NextNav to a "strong sell" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NextNav presently has a consensus rating of "Hold" and an average price target of $20.00.

NextNav Stock Up 0.9%

Shares of NN traded up $0.14 during midday trading on Monday, reaching $16.19. 631,946 shares of the stock were exchanged, compared to its average volume of 1,336,260. The firm has a 50 day simple moving average of $15.57 and a 200-day simple moving average of $13.47. 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 Inc. has a 12-month low of $6.75 and a 12-month high of $18.54. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -12.52 and a beta of 1.05.

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 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 analyst estimates of $1.59 million. Research analysts forecast that NextNav Inc. will post -0.74 EPS 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.