NextNav (NASDAQ:NN) General Counsel James Black Sells 1,878 Shares of Stock

NextNav Inc. (NASDAQ:NN) General Counsel James Black sold 1,878 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $15.34, for a total transaction of $28,808.52. Following the completion of the transaction, the general counsel owned 89,810 shares in the company, valued at $1,377,685.40. This trade represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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.

NextNav Stock Performance

NASDAQ:NN opened at $14.62 on Thursday. NextNav Inc. has a 52 week low of $10.87 and a 52 week high of $24.42. The firm’s fifty day moving average is $15.36 and its 200-day moving average is $17.49. The firm has a market cap of $2.47 billion, a P/E ratio of -15.07 and a beta of 1.12.

NextNav (NASDAQ:NN) last announced its earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The firm had revenue of $1.15 million for the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%. As a group, sell-side analysts anticipate that NextNav Inc. will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On NextNav

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sona Asset Management US LLC increased its position in NextNav by 37.9% in the 1st quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock valued at $8,354,000 after buying an additional 143,349 shares in the last quarter. Wittenberg Investment Management Inc. raised its stake in NextNav by 384.2% during the 4th quarter. Wittenberg Investment Management Inc. now owns 121,056 shares of the company’s stock worth $2,014,000 after buying an additional 96,056 shares during the period. BlueCrest Capital Management Ltd bought a new position in NextNav in the second quarter worth approximately $4,012,000. Squarepoint Ops LLC boosted its holdings in NextNav by 592.0% in the second quarter. Squarepoint Ops LLC now owns 113,073 shares of the company’s stock worth $2,016,000 after acquiring an additional 96,734 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted 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 worth $6,390,000 after acquiring an additional 41,004 shares in the last quarter. 79.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NN shares. Zacks Research lowered NextNav from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Oppenheimer raised their target price on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research note on Friday, July 17th. Odeon Capital Group started coverage on NextNav in a report on Monday, July 20th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Wall Street Zen lowered NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.33.

About NextNav

NextNav Inc (NASDAQ: NN) is a positioning, navigation and timing technology company that develops alternatives and complements to GPS. Its services are designed to provide accurate location and timing information in environments where GPS signals may be weak, unavailable or unreliable, including indoors and in urban areas.

The company’s primary offerings include Pinnacle, a 3D geolocation service that provides precise vertical positioning, and TerraPoiNT, a terrestrial network designed to deliver resilient positioning, navigation and timing signals.