NextNav (NASDAQ:NN) General Counsel Sells $169,439.13 in Stock

NextNav Inc. (NASDAQ:NN) General Counsel James Black sold 9,429 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $17.97, for a total transaction of $169,439.13. Following the completion of the transaction, the general counsel directly owned 93,566 shares of the company’s stock, valued at approximately $1,681,381.02. The trade was a 9.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NextNav Price Performance

Shares of NASDAQ NN opened at $19.36 on Thursday. The business’s 50 day moving average is $16.35 and its two-hundred day moving average is $15.30. NextNav Inc. has a 1-year low of $10.64 and a 1-year high of $19.91. The stock has a market capitalization of $2.63 billion, a P/E ratio of -12.57 and a beta of 0.96.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $0.95 million during the quarter, compared to analyst estimates of $0.86 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 4,503.43%. As a group, equities research analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after buying an additional 1,721 shares during the period. Clearstead Advisors LLC purchased a new position in NextNav during the 3rd quarter valued at $52,000. FWL Investment Management LLC purchased a new position in NextNav during the 2nd quarter valued at $70,000. Kemnay Advisory Services Inc. bought a new position in NextNav in the 4th quarter valued at $97,000. Finally, Osterweis Capital Management Inc. bought a new position in NextNav in the 4th quarter valued at $109,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of NextNav from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

About NextNav

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.