NextNav Inc. (NASDAQ:NN) Receives Average Rating of "Hold" from Analysts

Key Points

• NextNav has an average analyst rating of “Hold” from five firms, with a mix of one sell, one hold, and three buy ratings. The average 12-month price target is $32.33.
• The stock rose 2.2% to $13.34 on Monday, though that remains well below its recent moving averages and 12-month high of $24.42.
• NextNav beat earnings estimates in its latest quarter, reporting EPS of -$0.12 versus expectations of -$0.15, while revenue came in at $0.99 million. The company also saw insider selling, including CEO Mariam Sorond’s pre-planned share sale.

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) have been assigned an average recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.3333.

A number of analysts have recently weighed in on NN shares. Odeon Capital Group initiated coverage on shares of NextNav in a report on Monday. They issued a "buy" rating and a $22.00 target price on the stock. UBS Group set a $25.00 price objective on NextNav in a research note on Thursday, April 16th. B. Riley Financial restated a "buy" rating on shares of NextNav in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NextNav in a research note on Tuesday, April 21st. Finally, Oppenheimer lifted their target price on NextNav from $25.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd.

NextNav Stock Up 2.2%

NextNav stock traded up $0.28 during midday trading on Monday, reaching $13.34. 290,407 shares of the stock traded hands, compared to its average volume of 2,078,698. The stock has a market cap of $1.82 billion, a P/E ratio of -11.09 and a beta of 1.06. The stock's fifty day moving average is $19.20 and its 200-day moving average is $17.56. NextNav has a 12 month low of $10.87 and a 12 month high of $24.42.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.03. The business had revenue of $0.99 million during the quarter, compared to analysts' expectations of $0.94 million. On average, equities analysts predict that NextNav will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $19.92, for a total transaction of $1,391,471.76. Following the completion of the sale, the chief executive officer directly owned 1,244,495 shares of the company's stock, valued at approximately $24,790,340.40. This trade represents a 5.31% decrease in their position. The sale 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, CAO Sammaad Shams sold 2,006 shares of NextNav stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $17.84, for a total transaction of $35,787.04. Following the sale, the chief accounting officer owned 70,944 shares of the company's stock, valued at $1,265,640.96. The trade was a 2.75% 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 have sold 76,567 shares of company stock worth $1,522,252 over the last quarter. Insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in NextNav by 79.5% in the 4th quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company's stock worth $22,955,000 after purchasing an additional 611,179 shares during the period. Susquehanna Advisors Group Inc. grew its holdings in NextNav by 12.1% in the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company's stock valued at $77,325,000 after purchasing an additional 584,804 shares during the period. Vanguard Group Inc. grew its holdings in NextNav by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company's stock valued at $115,361,000 after purchasing an additional 573,214 shares during the period. Philosophy Capital Management LLC purchased a new stake in shares of NextNav in the third quarter valued at approximately $7,791,000. Finally, UBS Group AG raised its stake in shares of NextNav by 35.0% during the 4th quarter. UBS Group AG now owns 1,991,825 shares of the company's stock worth $33,144,000 after buying an additional 516,045 shares during the period. Hedge funds and other institutional investors own 79.16% of the company's stock.

NextNav Company Profile

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.

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