Shares of NextNav Inc. (NASDAQ:NN – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.3333.
Several research analysts have commented on the company. B. Riley Financial reissued a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Oppenheimer upped their target price on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Friday, July 17th. Odeon Capital Group began coverage on NextNav in a report on Monday, July 20th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Wall Street Zen upgraded NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th.
Read Our Latest Analysis on NextNav
Insider Activity
Hedge Funds Weigh In On NextNav
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. Grove Bank & Trust acquired a new stake in shares of NextNav during the second quarter valued at about $53,000. Bank of America Corp DE lifted its stake in shares of NextNav by 1.2% in the first quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock worth $4,165,000 after acquiring an additional 3,028 shares in the last quarter. Amundi boosted its holdings in NextNav by 7.5% in the first quarter. Amundi now owns 43,703 shares of the company’s stock valued at $700,000 after purchasing an additional 3,043 shares during the last quarter. California State Teachers Retirement System boosted its holdings in NextNav by 41.6% in the first quarter. California State Teachers Retirement System now owns 97,347 shares of the company’s stock valued at $1,559,000 after purchasing an additional 28,584 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in NextNav during the 1st quarter valued at approximately $364,000. 79.16% of the stock is owned by hedge funds and other institutional investors.
NextNav Stock Up 1.5%
NN opened at $19.51 on Friday. NextNav has a 52-week low of $10.87 and a 52-week high of $24.42. The company has a 50 day moving average of $16.50 and a two-hundred day moving average of $17.43. The company has a market cap of $3.29 billion, a P/E ratio of -20.11 and a beta of 1.10.
NextNav (NASDAQ:NN – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million. Research analysts anticipate that NextNav will post -0.44 earnings per share for the current year.
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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