NextNav (NASDAQ:NN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded NextNav's stock rating from "strong sell" to "hold," while Weiss Ratings maintained a "sell" rating.
• NextNav's latest earnings report showed a loss of ($0.30) EPS, missing estimates and reflecting a negative net margin of 2,678.59%.
• Institutional investors have recently increased their stakes in NextNav, with significant purchases from multiple firms, representing 79.16% of stock ownership by institutions.

NextNav (NASDAQ:NN - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of NextNav in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.00.

NextNav Stock Down 3.8%

NASDAQ NN opened at $14.18 on Monday. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 14.97. The company's 50 day simple moving average is $15.77 and its 200 day simple moving average is $14.23. NextNav has a 12 month low of $7.49 and a 12 month high of $18.54. The company has a market capitalization of $1.91 billion, a P/E ratio of -10.99 and a beta of 1.00.

NextNav (NASDAQ:NN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.30) EPS 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. Equities research analysts expect that NextNav will post -0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC purchased a new position in NextNav during the second quarter valued at approximately $25,000. Harbor Investment Advisory LLC grew its position in NextNav by 71.0% during the second quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company's stock valued at $56,000 after purchasing an additional 1,530 shares in the last quarter. FWL Investment Management LLC purchased a new position in NextNav during the second quarter valued at approximately $70,000. Harbor Capital Advisors Inc. purchased a new position in NextNav during the first quarter valued at approximately $73,000. Finally, Golden State Wealth Management LLC grew its position in NextNav by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after purchasing an additional 5,000 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.

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