NextNav's (NN) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• NextNav's stock retains a "sell (D-)" rating from Weiss Ratings, indicating continued skepticism from analysts about its performance.
• Despite a sell rating from Weiss, Zacks Research upgraded the stock from a "strong sell" to a "hold," reflecting mixed opinions on NextNav's market outlook.
• NextNav reported a quarterly earnings miss, with a loss of ($0.30) per share compared to the expected ($0.14), highlighting challenges in meeting financial expectations.

NextNav (NASDAQ:NN - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Separately, Zacks Research upgraded NextNav from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.00.

NextNav Stock Up 4.7%

NN opened at $13.31 on Friday. 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 stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -10.32 and a beta of 1.00. The business has a 50-day moving average of $15.39 and a two-hundred day moving average of $14.32. NextNav has a 12 month low of $9.05 and a 12 month high of $18.54.

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

Hedge Funds Weigh In On NextNav

Several hedge funds and other institutional investors have recently modified their holdings of NN. Interval Partners LP acquired a new position in shares of NextNav in the 1st quarter valued at about $9,827,000. Vanguard Group Inc. lifted its position 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 acquiring an additional 715,171 shares in the last quarter. Troluce Capital Advisors LLC acquired a new position in NextNav during the 1st quarter worth approximately $5,132,000. First Trust Advisors LP acquired a new position in NextNav during the 2nd quarter worth approximately $4,726,000. Finally, Epoch Investment Partners Inc. lifted its position in NextNav by 220.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 449,272 shares of the company's stock worth $5,468,000 after acquiring an additional 309,175 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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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