NextNav (NASDAQ:NN) CEO Sells 69,853 Shares

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $1,068,750.90. Following the transaction, the chief executive officer owned 1,171,792 shares of the company’s stock, valued at $17,928,417.60. This trade represents a 5.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.

Mariam Sorond also recently made the following trade(s):

• On Tuesday, June 16th, Mariam Sorond sold 2,830 shares of NextNav stock. The shares were sold at an average price of $18.33, for a total transaction of $51,873.90.

NextNav Trading Up 2.4%

Shares of NN stock traded up $0.37 during trading hours on Thursday, hitting $15.72. The company’s stock had a trading volume of 1,457,909 shares, compared to its average volume of 2,945,712. The business has a fifty day moving average of $15.73 and a 200-day moving average of $17.58. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -16.21 and a beta of 1.12. NextNav Inc. has a twelve month low of $10.87 and a twelve month high of $24.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%.The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million. On average, equities analysts expect that NextNav Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On NextNav

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of NextNav by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock valued at $115,361,000 after acquiring an additional 573,214 shares during the last quarter. UBS Group AG boosted its position in shares of NextNav by 35.0% in the fourth quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock worth $33,144,000 after acquiring an additional 516,045 shares during the last quarter. Sona Asset Management US LLC boosted its position in shares of NextNav by 37.9% in the first quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock worth $8,354,000 after acquiring an additional 143,349 shares during the last quarter. Wittenberg Investment Management Inc. grew its holdings in NextNav by 384.2% in the fourth quarter. Wittenberg Investment Management Inc. now owns 121,056 shares of the company’s stock valued at $2,014,000 after purchasing an additional 96,056 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in NextNav by 12.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 384,040 shares of the company’s stock valued at $6,390,000 after purchasing an additional 41,004 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Wall Street Analysts Forecast Growth

NN has been the topic of several recent research reports. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Zacks Research downgraded shares of NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Oppenheimer upped their target price on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Odeon Capital Group began coverage on shares of NextNav in a research note on Monday, July 20th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.33.

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.