Key Points
- Joseph Samberg, a major NextNav shareholder, bought 58,457 shares on Nov. 21 at an average price of $11.86 (≈$693,300), increasing his holdings to 9,745,600 shares (a 0.60% rise), according to an SEC filing.
- NextNav reported Q3 EPS of -$0.12 (beating estimates by $0.02) but showed very weak profitability with negative ROE and net margins, revenue of $0.89M, a market cap of about $1.75B and a negative P/E.
- Institutional ownership is high (≈79%), several hedge funds have increased stakes, yet analysts remain cautious with an average rating of "Reduce" (one Hold, one Sell) as the stock traded around $12.96 after a recent 8.4% uptick.
NextNav Inc. (NASDAQ:NN - Get Free Report) major shareholder Joseph Samberg acquired 58,457 shares of the business's stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $11.86 per share, with a total value of $693,300.02. Following the completion of the transaction, the insider owned 9,745,600 shares of the company's stock, valued at approximately $115,582,816. The trade was a 0.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
NextNav Stock Up 8.4%
NN stock opened at $12.96 on Tuesday. NextNav Inc. has a 1-year low of $9.05 and a 1-year high of $18.54. The business's 50 day simple moving average is $13.78 and its 200 day simple moving average is $14.39. The company has a current ratio of 11.53, a quick ratio of 11.54 and a debt-to-equity ratio of 32.42. The firm has a market capitalization of $1.75 billion, a PE ratio of -9.97 and a beta of 0.99.
NextNav (NASDAQ:NN - Get Free Report) last announced its quarterly 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. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%.The business had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. As a group, research analysts anticipate that NextNav Inc. will post -0.74 EPS for the current year.
Hedge Funds Weigh In On NextNav
Hedge funds have recently bought and sold shares of the business. Caxton Associates LLP acquired a new stake in NextNav in the 3rd quarter worth about $776,000. Verition Fund Management LLC raised its position in shares of NextNav by 47.7% in the third quarter. Verition Fund Management LLC now owns 263,217 shares of the company's stock valued at $3,764,000 after buying an additional 85,021 shares in the last quarter. Susquehanna Advisors Group Inc. boosted its stake in shares of NextNav by 12.1% in the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company's stock valued at $77,325,000 after buying an additional 584,804 shares during the period. Prentice Capital Management LP grew its position in NextNav by 2.5% during the third quarter. Prentice Capital Management LP now owns 442,759 shares of the company's stock worth $6,331,000 after buying an additional 10,737 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in NextNav during the third quarter worth approximately $1,235,000. 79.16% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
NN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NextNav in a report on Wednesday, October 8th. Zacks Research upgraded shares of NextNav from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Finally, Wall Street Zen cut NextNav from a "hold" rating to a "sell" rating in a report on Sunday, November 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce".
Check Out Our Latest Report on NN
About NextNav
(
Get Free Report)
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.
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