NextNav (NASDAQ:NN) Shares Down 8.8% - What's Next?

Key Points

• NextNav shares dropped about 8.8% intraday to roughly $15.50 (from $17.01), with ~1.04 million shares traded — a 42% decline versus average daily volume.
• Analyst views are mixed (two Buys, one Hold, one Sell), giving a MarketBeat consensus rating of Hold and a consensus target price of $25; Oppenheimer and UBS have both set $25 targets and Oppenheimer upgraded to Outperform.
• Insiders have been selling (CEO sold 69,853 shares; insiders sold 101,133 shares worth ~$1.73M in the last 90 days), while the company remains unprofitable (Q1 EPS $(0.13), revenue $0.95M) and is forecast to report about $(0.59) per share for the year.

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price was down 8.8% during mid-day trading on Tuesday . The stock traded as low as $15.65 and last traded at $15.5050. Approximately 1,042,837 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 1,795,409 shares. The stock had previously closed at $17.01.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NN shares. B. Riley Financial reissued a "buy" rating on shares of NextNav in a research report on Thursday, April 23rd. Oppenheimer raised NextNav from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research report on Thursday, April 16th. UBS Group set a $25.00 target price on NextNav in a research report on Thursday, April 16th. Wall Street Zen cut NextNav from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextNav in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.00.

NextNav Stock Performance

The stock has a market capitalization of $2.31 billion, a PE ratio of -11.02 and a beta of 0.98. The stock has a 50-day moving average price of $17.27 and a two-hundred day moving average price of $15.56.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.13). The company had revenue of $0.95 million for the quarter, compared to analysts' expectations of $0.86 million. As a group, equities analysts predict that NextNav Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel James S. Black sold 9,429 shares of NextNav stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $17.97, for a total value of $169,439.13. Following the sale, the general counsel directly owned 93,566 shares in the company, valued at $1,681,381.02. This trade represents a 9.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,133 shares of company stock valued at $1,733,594 in the last 90 days. Corporate insiders own 7.70% of the company's stock.

Institutional Trading of NextNav

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company's stock worth $37,000 after acquiring an additional 1,721 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in NextNav during the third quarter valued at $52,000. Kemnay Advisory Services Inc. purchased a new stake in NextNav during the fourth quarter valued at $97,000. Osterweis Capital Management Inc. bought a new position in NextNav during the fourth quarter valued at $109,000. Finally, Kestra Advisory Services LLC bought a new position in NextNav during the fourth quarter valued at $116,000. 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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