NextNav (NASDAQ:NN) Stock Price Down 5.2% - What's Next?

Key Points

• NextNav shares fell 5.2% to $15.04 in mid-day trading, with volume 80% below the average session level. The stock trades below its 50-day and 200-day moving averages.
• Analyst views are mixed: the consensus rating is “Hold” with a $32.33 target price, while recent actions ranged from a $50 price target and “outperform” rating to “sell” downgrades.
• NextNav missed quarterly EPS expectations, reporting a loss of $0.24 per share versus the estimated $0.16 loss, though revenue of $1.15 million exceeded forecasts. The company remains deeply unprofitable, with a projected full-year loss of $0.46 per share.

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) dropped 5.2% during mid-day trading on Tuesday . The company traded as low as $15.12 and last traded at $15.04. 452,690 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,214,009 shares. The stock had previously closed at $15.87.

Analyst Ratings Changes

Several research firms recently commented on NN. Zacks Research lowered NextNav from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 20th. Weiss Ratings restated a "sell (d-)" rating on shares of NextNav in a research note on Friday, July 17th. Oppenheimer boosted their price objective on shares of NextNav from $25.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Wall Street Zen cut shares of NextNav from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Odeon Capital Group began coverage on NextNav in a research report on Monday, July 20th. They set a "buy" rating and a $22.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.33.

NextNav Price Performance

The company has a fifty day moving average of $15.82 and a two-hundred day moving average of $17.60. The stock has a market capitalization of $2.62 billion, a P/E ratio of -15.98 and a beta of 1.10.

NextNav (NASDAQ:NN - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $0.92 million. NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%. As a group, equities research analysts predict that NextNav Inc. will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Sammaad Shams sold 2,006 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $17.84, for a total value of $35,787.04. Following the transaction, the chief accounting officer directly owned 70,944 shares in the company, valued at approximately $1,265,640.96. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel James S. Black sold 1,878 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $22.96, for a total transaction of $43,118.88. Following the completion of the transaction, the general counsel owned 91,688 shares in the company, valued at approximately $2,105,156.48. The trade was a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,714 shares of company stock valued at $130,780 over the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextNav

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in NextNav by 347.0% in the fourth 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 during the last quarter. KBC Group NV bought a new stake in shares of NextNav in the 1st quarter worth approximately $38,000. Grove Bank & Trust acquired a new position in NextNav during the 2nd quarter valued at approximately $53,000. Kemnay Advisory Services Inc. acquired a new position in NextNav during the 4th quarter valued at approximately $97,000. Finally, Osterweis Capital Management Inc. bought a new position in NextNav during the 4th quarter worth $109,000. Institutional investors own 79.16% of the company's stock.

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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