Shares of NextNav Inc. (NASDAQ:NN – Get Free Report) have received a consensus rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.3333.
A number of research firms recently weighed in on NN. UBS Group set a $25.00 price target on shares of NextNav in a research report on Thursday, April 16th. Odeon Capital Group began coverage on NextNav in a research report on Monday. They issued a “buy” rating and a $22.00 price target for the company. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Wall Street Zen raised NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Oppenheimer upped their target price on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd.
Check Out Our Latest Report on NextNav
NextNav Stock Performance
NextNav (NASDAQ:NN – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.94 million. On average, research analysts expect that NextNav will post -0.48 earnings per share for the current year.
Insider Activity
In other news, General Counsel James S. Black sold 1,878 shares of NextNav stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $22.96, for a total transaction of $43,118.88. Following the sale, the general counsel owned 91,688 shares of the company’s stock, valued at approximately $2,105,156.48. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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, CAO Sammaad Shams sold 2,006 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $17.84, for a total value of $35,787.04. Following the completion of the transaction, the chief accounting officer owned 70,944 shares in the company, valued at $1,265,640.96. This represents a 2.75% 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 76,567 shares of company stock valued at $1,522,252 in the last 90 days. Company insiders own 7.80% of the company’s stock.
Institutional Investors Weigh In On NextNav
Several institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position 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 valued at $37,000 after acquiring an additional 1,721 shares during the last quarter. KBC Group NV acquired a new position in NextNav during the first quarter worth approximately $38,000. Grove Bank & Trust acquired a new position in NextNav during the second quarter worth approximately $53,000. Kemnay Advisory Services Inc. purchased a new stake in NextNav in the fourth quarter valued at approximately $97,000. Finally, Osterweis Capital Management Inc. purchased a new stake in NextNav in the fourth quarter valued at approximately $109,000. 79.16% of the stock is owned by hedge funds and other institutional investors.
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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