NextNav Inc. (NASDAQ:NN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of NextNav Inc. (NASDAQ:NNGet 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

In other news, General Counsel James S. Black sold 1,878 shares of the business’s stock in a transaction 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 transaction, the general counsel directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 on Monday, June 29th. The shares were sold at an average price of $17.84, for a total transaction of $35,787.04. Following the completion of the transaction, the chief accounting officer owned 70,944 shares of the company’s stock, valued at $1,265,640.96. This trade 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 have sold 76,567 shares of company stock worth $1,522,252 over the last 90 days. Company insiders own 7.80% of the company’s stock.

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:NNGet 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

(Get Free Report)

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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Analyst Recommendations for NextNav (NASDAQ:NN)

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