Quinn Opportunity Partners LLC Sells 48,379 Shares of NextNav Inc. $NN

Quinn Opportunity Partners LLC lowered its holdings in NextNav Inc. (NASDAQ:NN) by 31.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 105,450 shares of the company’s stock after selling 48,379 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in NextNav were worth $1,603,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AlphaQuest LLC bought a new stake in NextNav during the 2nd quarter valued at $25,000. Harbor Investment Advisory LLC raised its holdings in NextNav by 71.0% in the second quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock worth $56,000 after purchasing an additional 1,530 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of NextNav by 15.0% during 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 last quarter. DCF Advisers LLC purchased a new position in shares of NextNav in the 1st quarter worth approximately $158,000. Finally, Teacher Retirement System of Texas purchased a new stake in NextNav during the second quarter valued at approximately $166,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NN has been the topic of several research analyst reports. Zacks Research upgraded NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

NextNav Stock Down 0.9%

NextNav stock opened at $12.52 on Wednesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -9.63 and a beta of 0.99. NextNav Inc. has a 52 week low of $9.05 and a 52 week high of $18.54. The business’s 50-day moving average price is $14.52 and its 200 day moving average price is $14.43. The company has a quick ratio of 11.54, a current ratio of 11.53 and a debt-to-equity ratio of 32.42.

NextNav (NASDAQ:NN) last posted its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. As a group, sell-side analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current year.

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.