NextNav (NASDAQ:NN) Stock Price Down 5% - Should You Sell?

Key Points

• NextNav Inc. stock fell 5% to $14.95 with a significant drop in trading volume, declining 77% from its average.
• Zacks Research downgraded NextNav to a "strong sell" rating, while the overall average rating remains "Hold" with a price target of $20.00.
• NextNav reported a quarterly loss of ($0.30) earnings per share, missing estimates, and had revenue of $1.20 million against a consensus estimate of $1.59 million.

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price traded down 5% during mid-day trading on Monday . The stock traded as low as $15.04 and last traded at $14.95. 304,788 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,346,540 shares. The stock had previously closed at $15.73.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of NextNav to a "strong sell" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $20.00.

NextNav Stock Performance

The business's fifty day moving average price is $15.89 and its two-hundred day moving average price is $14.12. 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 $1.99 billion, a P/E ratio of -11.46 and a beta of 1.05.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.16). NextNav had a negative return on equity of 556.83% and a negative net margin of 2,678.59%.The business had revenue of $1.20 million during the quarter, compared to the consensus estimate of $1.59 million. As a group, sell-side analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Hedge Funds Weigh In On NextNav

Large investors have recently made changes to their positions in the company. Interval Partners LP purchased a new stake in NextNav in the 1st quarter valued at about $9,827,000. Vanguard Group Inc. boosted its position in NextNav by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company's stock valued at $57,591,000 after buying an additional 715,171 shares during the period. Troluce Capital Advisors LLC purchased a new stake in shares of NextNav in the 1st quarter worth approximately $5,132,000. First Trust Advisors LP purchased a new stake in shares of NextNav in the 2nd quarter worth approximately $4,726,000. Finally, Epoch Investment Partners Inc. lifted its position in shares of NextNav by 220.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 449,272 shares of the company's stock worth $5,468,000 after purchasing an additional 309,175 shares during the period. 79.16% of the stock is owned by hedge funds and other 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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