NextNav (NASDAQ:NN) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• NextNav has received a "Sell (D-)" rating from Weiss Ratings, while Zacks Research upgraded it from a "strong sell" to a "hold" rating.
• The company reported a loss of ($0.30) EPS, underperforming analysts' expectations, with revenue of $1.20 million compared to estimates of $1.59 million.
• Currently, 79.16% of NextNav's stock is held by institutional investors, indicating substantial interest from larger investment firms.

NextNav (NASDAQ:NN - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded NextNav from a "strong sell" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.00.

NextNav Stock Performance

NN stock opened at $14.26 on Wednesday. The company has a debt-to-equity ratio of 32.42, a quick ratio of 14.97 and a current ratio of 14.97. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -11.05 and a beta of 1.00. NextNav has a 1 year low of $7.49 and a 1 year high of $18.54. The stock's fifty day moving average is $15.76 and its two-hundred day moving average is $14.23.

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). The firm had revenue of $1.20 million for the quarter, compared to analyst estimates of $1.59 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%. On average, research analysts predict that NextNav will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NextNav by 1.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company's stock valued at $733,000 after purchasing an additional 714 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of NextNav by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 18,056 shares of the company's stock worth $274,000 after acquiring an additional 765 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of NextNav by 7.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,494 shares of the company's stock worth $175,000 after acquiring an additional 826 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of NextNav by 11.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company's stock worth $137,000 after acquiring an additional 892 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of NextNav by 15.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company's stock worth $105,000 after acquiring an additional 898 shares during the period. 79.16% of the stock is currently owned by institutional investors.

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.

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