Ingalls & Snyder LLC Has $7.81 Million Holdings in NextNav Inc. $NN

Ingalls & Snyder LLC boosted its stake in NextNav Inc. (NASDAQ:NN) by 10.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 513,850 shares of the company’s stock after purchasing an additional 49,170 shares during the quarter. Ingalls & Snyder LLC owned about 0.39% of NextNav worth $7,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NN. AlphaQuest LLC bought a new position in NextNav in the second quarter valued at about $25,000. Harbor Investment Advisory LLC increased its stake in shares of NextNav by 71.0% in the second quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock valued at $56,000 after buying an additional 1,530 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of NextNav by 15.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock valued at $105,000 after buying an additional 898 shares during the period. Golden State Wealth Management LLC increased its stake in shares of NextNav by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company’s stock valued at $122,000 after buying an additional 5,000 shares during the period. Finally, DCF Advisers LLC acquired a new position in shares of NextNav in the first quarter valued at approximately $158,000. Institutional investors own 79.16% of the company’s stock.

NextNav Price Performance

Shares of NASDAQ:NN opened at $13.31 on Friday. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 32.42. The stock’s fifty day simple moving average is $15.39 and its two-hundred day simple moving average is $14.32. NextNav Inc. has a 1-year low of $9.05 and a 1-year high of $18.54. The stock has a market cap of $1.79 billion, a PE ratio of -10.32 and a beta of 1.00.

NextNav (NASDAQ:NN) last announced its earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.16). NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%. The business had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $1.59 million. As a group, analysts forecast that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on NN. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Saturday. 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

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.