NextNav (NASDAQ:NN) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded NextNav (NASDAQ:NN) from "sell" to "hold", but Weiss Ratings still rates the stock "sell (D-)" and the consensus average rating remains "Reduce".
• CEO Mariam Sorond sold 69,853 shares on March 3 at about $16.91 (a 5.21% reduction), and insiders have sold 71,544 shares totaling roughly $1.21 million in the last three months.
• Institutional investors own about 79.16% of the company (Vanguard holds ~6.93M shares), and NextNav has a market cap of $2.20B with the stock near $16.33 and a 52-week range of $9.48–$18.25.

NextNav (NASDAQ:NN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of NextNav in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

NextNav Price Performance

NASDAQ NN opened at $16.33 on Friday. The stock has a market capitalization of $2.20 billion, a P/E ratio of -12.56 and a beta of 0.96. The business has a 50 day simple moving average of $15.79 and a 200 day simple moving average of $15.20. NextNav has a one year low of $9.48 and a one year high of $18.25.

Insider Transactions at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $16.91, for a total value of $1,181,214.23. Following the completion of the sale, the chief executive officer directly owned 1,270,946 shares of the company's stock, valued at $21,491,696.86. The trade was a 5.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sammaad Shams sold 1,576 shares of the company's stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer directly owned 65,995 shares in the company, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,544 shares of company stock worth $1,208,753 in the last three months. Insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On NextNav

A number of hedge funds have recently added to or reduced their stakes in NN. Vanguard Group Inc. increased its holdings in shares of NextNav by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company's stock valued at $115,361,000 after acquiring an additional 573,214 shares in the last quarter. Susquehanna Advisors Group Inc. lifted its holdings in shares of NextNav by 1.4% in the 4th quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company's stock worth $91,226,000 after purchasing an additional 74,995 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NextNav by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company's stock worth $37,754,000 after purchasing an additional 100,058 shares in the last quarter. State Street Corp grew its position in NextNav by 1.9% in the 4th quarter. State Street Corp now owns 2,171,877 shares of the company's stock valued at $36,140,000 after purchasing an additional 40,762 shares during the period. Finally, Plustick Management LLC grew its position in NextNav by 1.3% in the 4th quarter. Plustick Management LLC now owns 2,065,818 shares of the company's stock valued at $34,375,000 after purchasing an additional 25,818 shares during the period. Institutional investors and hedge funds 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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