NextNav (NASDAQ:NN) CEO Mariam Sorond Sells 2,831 Shares of Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 2,831 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total value of $41,672.32. Following the completion of the sale, the chief executive officer directly owned 1,168,961 shares of the company’s stock, valued at approximately $17,207,105.92. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Thursday, September 3rd, Mariam Sorond sold 69,853 shares of NextNav stock. The stock was sold at an average price of $15.30, for a total transaction of $1,068,750.90.

NextNav Stock Up 2.1%

NN opened at $14.92 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of -15.38 and a beta of 1.12. The company has a fifty day moving average of $15.32 and a 200-day moving average of $17.48. NextNav Inc. has a twelve month low of $10.87 and a twelve month high of $24.42.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. KBC Group NV purchased a new stake in NextNav in the 1st quarter worth about $38,000. Grove Bank & Trust purchased a new stake in NextNav during the second quarter valued at about $53,000. Caitong International Asset Management Co. Ltd boosted its position in NextNav by 732.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after purchasing an additional 3,631 shares during the period. Sei Investments Co. bought a new position in NextNav during the first quarter worth about $231,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of NextNav in the fourth quarter worth about $245,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Company Profile

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.