NextNav (NASDAQ:NN) CAO Sells 1,576 Shares

NextNav Inc. (NASDAQ:NN) CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $14.64, for a total value of $23,072.64. Following the completion of the transaction, the chief accounting officer owned 68,938 shares in the company, valued at approximately $1,009,252.32. This represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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.

Sammaad Shams also recently made the following trade(s):

• On Wednesday, September 16th, Sammaad Shams sold 430 shares of NextNav stock. The shares were sold at an average price of $14.79, for a total value of $6,359.70.
• On Monday, June 29th, Sammaad Shams sold 2,006 shares of NextNav stock. The shares were sold at an average price of $17.84, for a total value of $35,787.04.

NextNav Stock Performance

NN traded up $1.44 on Monday, hitting $15.66. 2,780,921 shares of the company were exchanged, compared to its average volume of 2,342,804. The firm has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $17.45. NextNav Inc. has a 12 month low of $10.87 and a 12 month high of $24.42. The stock has a market capitalization of $2.64 billion, a PE ratio of -16.14 and a beta of 1.12.

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

Hedge Funds Weigh In On NextNav

A number of hedge funds have recently bought and sold shares of NN. KBC Group NV purchased a new stake in shares of NextNav during the 1st quarter valued at about $38,000. Grove Bank & Trust purchased a new position in shares of NextNav during the second quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd lifted 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 valued at $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 valued at approximately $231,000. Finally, Bleakley Financial Group LLC purchased a new stake in NextNav in the fourth quarter worth approximately $245,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NN shares. Wells Fargo & Company restated a “buy” rating on shares of NextNav in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Friday, July 17th. Oppenheimer raised their price objective on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Odeon Capital Group initiated coverage on shares of NextNav in a report on Monday, July 20th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Zacks Research downgraded shares of NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NextNav currently has a consensus rating of “Moderate Buy” 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.