NextNav Target of Unusually High Options Trading (NASDAQ:NN)

Key Points

• Traders bought an unusually large number of call options — 57,369 calls on Tuesday, a 441% increase vs. average — as NextNav stock saw heavy trading (3.7M shares) and traded around $16.97.
• Insiders have been selling recently: 101,133 shares sold over the past three months (including CAO Sammaad Shams and GC James S. Black), reducing insider ownership to about 7.70%.
• Analyst views are mixed (two Buys, one Hold, one Sell) with a MarketBeat consensus rating of "Hold" and a consensus price target of $25, while Oppenheimer and UBS have set $25 targets and some firms have downgraded the stock.

NextNav Inc. (NASDAQ:NN - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 57,369 call options on the stock. This is an increase of 441% compared to the average volume of 10,603 call options.

Insider Buying and Selling at NextNav

In other news, CAO Sammaad Shams sold 3,945 shares of the firm's stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $19.54, for a total value of $77,085.30. Following the transaction, the chief accounting officer directly owned 72,950 shares of the company's stock, valued at approximately $1,425,443. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel James S. Black sold 9,429 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $17.97, for a total transaction of $169,439.13. Following the completion of the transaction, the general counsel directly owned 93,566 shares in the company, valued at approximately $1,681,381.02. This represents a 9.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 101,133 shares of company stock valued at $1,733,594. Corporate insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NN. Caitong International Asset Management Co. Ltd lifted its stake 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 acquiring an additional 1,721 shares in the last quarter. Clearstead Advisors LLC acquired a new position in NextNav in the 3rd quarter valued at about $52,000. Kemnay Advisory Services Inc. purchased a new stake in NextNav during the fourth quarter worth about $97,000. Osterweis Capital Management Inc. purchased a new stake in NextNav during the fourth quarter worth about $109,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of NextNav during the fourth quarter worth about $116,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NN shares. B. Riley Financial reissued a "buy" rating on shares of NextNav in a research note on Thursday, April 23rd. Wall Street Zen cut shares of NextNav from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 21st. Oppenheimer upgraded shares of NextNav from a "market perform" rating to an "outperform" rating and set a $25.00 price objective for the company in a research report on Thursday, April 16th. UBS Group set a $25.00 price objective on shares of NextNav in a research report on Thursday, April 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NextNav in a research report on Tuesday, April 21st. Two equities research analysts have 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 MarketBeat, NextNav currently has an average rating of "Hold" and a consensus price target of $25.00.

NextNav Trading Down 0.2%

NextNav stock traded down $0.04 during midday trading on Tuesday, hitting $16.97. 3,707,056 shares of the stock were exchanged, compared to its average volume of 1,833,011. NextNav has a fifty-two week low of $10.84 and a fifty-two week high of $24.19. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -11.02 and a beta of 0.98. The stock's 50-day simple moving average is $17.27 and its 200 day simple moving average is $15.56.

NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $0.86 million. Equities analysts anticipate that NextNav will post -0.59 EPS for the current fiscal year.

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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