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

NextNav Inc. (NASDAQ:NN) General Counsel James Black sold 1,878 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $22.96, for a total value of $43,118.88. Following the completion of the transaction, the general counsel owned 91,688 shares of the company’s stock, valued at $2,105,156.48. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

NextNav Stock Performance

Shares of NextNav stock opened at $18.51 on Thursday. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -15.30 and a beta of 1.04. NextNav Inc. has a fifty-two week low of $10.87 and a fifty-two week high of $24.42. The stock has a 50 day moving average of $19.92 and a 200 day moving average of $17.51.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.94 million. Analysts forecast that NextNav Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer lifted their target price on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. UBS Group set a $25.00 price target on shares of NextNav in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.50.

Institutional Trading of NextNav

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in NextNav by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after buying an additional 573,214 shares during the last quarter. Susquehanna Advisors Group Inc. lifted its holdings in NextNav by 1.4% during the 4th quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company’s stock worth $91,226,000 after buying an additional 74,995 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NextNav by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company’s stock worth $37,754,000 after buying an additional 100,058 shares during the last quarter. State Street Corp lifted its position in shares of NextNav by 1.9% during the 4th quarter. State Street Corp now owns 2,171,877 shares of the company’s stock worth $36,140,000 after buying an additional 40,762 shares during the last quarter. Finally, Plustick Management LLC lifted its position in shares of NextNav by 1.3% during the 4th quarter. Plustick Management LLC now owns 2,065,818 shares of the company’s stock worth $34,375,000 after buying an additional 25,818 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

About NextNav

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.