NextNav (NASDAQ:NN) Sets New 1-Year High - Time to Buy?

Key Points

• NextNav hit a new 52-week high, trading as high as $21.57 (last $21.49) on Friday — up about 26.6% — with a market cap near $2.92B and 50-/200-day moving averages of $16.75/$15.28.
• Analyst views are mixed: the consensus rating is "Hold" with an average price target of $25 (UBS and Oppenheimer at $25), while some outlets have issued sell or strong-sell opinions.
• The company reported a quarterly EPS loss of ($0.13) (in line with estimates) on $0.95M revenue and analysts forecast FY EPS of -0.74, while insiders have sold roughly 101,133 shares in the past 90 days (insiders own 7.7% and institutions ~79.2%).

NextNav Inc. (NASDAQ:NN - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $21.57 and last traded at $21.49, with a volume of 8251568 shares changing hands. The stock had previously closed at $16.97.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NN shares. Wall Street Zen cut NextNav from a "hold" rating to a "strong sell" rating in a report on Saturday, March 21st. UBS Group set a $25.00 price target on NextNav in a report on Thursday. Oppenheimer raised NextNav from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a report on Thursday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NextNav in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.00.

NextNav Stock Up 26.6%

The stock has a fifty day moving average of $16.75 and a 200-day moving average of $15.28. The firm has a market capitalization of $2.92 billion, a P/E ratio of -13.95 and a beta of 0.98.

NextNav (NASDAQ:NN - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.13). The business had revenue of $0.95 million during the quarter, compared to the consensus estimate of $0.86 million. As a group, analysts forecast that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other NextNav news, CAO Sammaad Shams sold 3,945 shares of the business's stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total transaction of $77,085.30. Following the completion of the sale, the chief accounting officer directly owned 72,950 shares of the company's stock, valued at approximately $1,425,443. The trade was a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Gray sold 1,405 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $18.11, for a total value of $25,444.55. Following the sale, the chief financial officer directly owned 131,786 shares of the company's stock, valued at $2,386,644.46. This represents a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 101,133 shares of company stock valued at $1,733,594. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently added to or reduced their stakes in NN. Caitong International Asset Management Co. Ltd raised its holdings in NextNav by 347.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company's stock worth $37,000 after purchasing an additional 1,721 shares during the last quarter. Clearstead Advisors LLC bought a new stake in NextNav during the 3rd quarter worth about $52,000. Kemnay Advisory Services Inc. bought a new stake in NextNav during the 4th quarter worth about $97,000. Osterweis Capital Management Inc. bought a new stake in NextNav during the 4th quarter worth about $109,000. Finally, Kestra Advisory Services LLC bought a new stake in NextNav during the 4th quarter worth about $116,000. 79.16% of the stock is owned by institutional investors.

About NextNav

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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