225,000 Shares in NextNav Inc. $NN Purchased by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd purchased a new stake in shares of NextNav Inc. (NASDAQ:NN) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 225,000 shares of the company’s stock, valued at approximately $4,012,000.

A number of other large investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its position in NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after purchasing an additional 1,721 shares in the last quarter. KBC Group NV acquired a new stake in shares of NextNav during the 1st quarter worth approximately $38,000. Grove Bank & Trust purchased a new position in shares of NextNav during the 2nd quarter valued at approximately $53,000. Kemnay Advisory Services Inc. purchased a new position in shares of NextNav during the 4th quarter valued at approximately $97,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of NextNav in the 4th quarter valued at $109,000. 79.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel James S. Black sold 1,878 shares of NextNav stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $22.96, for a total transaction of $43,118.88. Following the transaction, the general counsel owned 91,688 shares in the company, valued at approximately $2,105,156.48. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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. Also, CAO Sammaad Shams sold 2,006 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $17.84, for a total value of $35,787.04. Following the transaction, the chief accounting officer directly owned 70,944 shares in the company, valued at $1,265,640.96. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 76,567 shares of company stock worth $1,199,531 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

NextNav Stock Performance

Shares of NN stock opened at $15.43 on Thursday. The stock’s fifty day moving average is $15.54 and its two-hundred day moving average is $17.55. The firm has a market capitalization of $2.60 billion, a P/E ratio of -15.91 and a beta of 1.12. NextNav Inc. has a fifty-two week low of $10.87 and a fifty-two week high of $24.42.

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

Analyst Ratings Changes

NN has been the topic of several analyst reports. Oppenheimer raised their price target on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Wall Street Zen downgraded shares of NextNav from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Odeon Capital Group began coverage on NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 target price on the stock. Zacks Research cut NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Weiss Ratings reissued 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.