NextNav (NASDAQ:NN) Stock Price Down 8.1% - Should You Sell?

Key Points

• NextNav Inc. (NASDAQ:NN) shares fell by 8.1% to trade at $16.17, marking a significant decline in both stock price and trading volume compared to recent averages.
• Analysts have rated the stock with an average rating of "Hold" and a price target of $20.00, but Zacks Research recently upgraded it to a "strong sell."
• In the second quarter, NextNav reported a loss of $0.30 per share, significantly missing analyst estimates, alongside a revenue of $1.20 million against expectations of $1.59 million.

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price fell 8.1% on Wednesday . The stock traded as low as $16.33 and last traded at $16.17. 944,359 shares were traded during trading, a decline of 29% from the average session volume of 1,323,362 shares. The stock had previously closed at $17.60.

Analyst Ratings Changes

Separately, Zacks Research raised NextNav to a "strong sell" rating in a 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 company's stock. According to MarketBeat.com, NextNav presently has an average rating of "Hold" and a consensus target price of $20.00.

NextNav Price Performance

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 company has a market cap of $2.10 billion, a price-to-earnings ratio of -12.23 and a beta of 1.05. The business has a fifty day moving average price of $15.58 and a 200 day moving average price of $13.50.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.59 million. As a group, research analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In other news, CEO Mariam Sorond sold 69,853 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $14.38, for a total value of $1,004,486.14. Following the transaction, the chief executive officer directly owned 1,480,505 shares of the company's stock, valued at $21,289,661.90. The trade was a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in NextNav by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company's stock worth $57,591,000 after buying an additional 715,171 shares during the period. Ancora Advisors LLC raised its stake in NextNav by 11.0% during the 1st quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company's stock worth $27,233,000 after buying an additional 221,486 shares during the period. Geode Capital Management LLC raised its stake in NextNav by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company's stock worth $29,385,000 after buying an additional 115,261 shares during the period. Empyrean Capital Partners LP raised its stake in NextNav by 21.7% during the 1st quarter. Empyrean Capital Partners LP now owns 1,685,000 shares of the company's stock worth $20,506,000 after buying an additional 300,000 shares during the period. Finally, General American Investors Co. Inc. raised its stake in NextNav by 31.0% during the 1st quarter. General American Investors Co. Inc. now owns 1,120,227 shares of the company's stock worth $13,633,000 after buying an additional 265,227 shares during the period. 79.16% of the stock is owned by institutional investors and hedge funds.

NextNav Company Profile

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.