Joseph Samberg Sells 600,000 Shares of NextNav (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) major shareholder Joseph Samberg sold 600,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $12.35, for a total transaction of $7,410,000.00. Following the completion of the sale, the insider directly owned 760,000 shares of the company’s stock, valued at approximately $9,386,000. The trade was a 44.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

NextNav Price Performance

NASDAQ:NN opened at $12.72 on Wednesday. NextNav Inc. has a 52 week low of $9.05 and a 52 week high of $18.54. The company has a debt-to-equity ratio of 32.42, a quick ratio of 11.54 and a current ratio of 11.53. The firm’s 50-day simple moving average is $14.17 and its 200 day simple moving average is $14.43. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -9.78 and a beta of 0.99.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. The firm had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. As a group, sell-side analysts predict that NextNav Inc. will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Zacks Research upgraded NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut NextNav from a “hold” rating to a “sell” rating in a research report on Sunday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NextNav has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NN. Bank of New York Mellon Corp lifted its holdings in shares of NextNav by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 219,024 shares of the company’s stock worth $2,666,000 after acquiring an additional 11,565 shares during the last quarter. Arizona State Retirement System lifted its stake in NextNav by 27.8% in the 1st quarter. Arizona State Retirement System now owns 18,709 shares of the company’s stock valued at $228,000 after purchasing an additional 4,064 shares during the last quarter. Greenhaven Road Investment Management L.P. acquired a new stake in NextNav in the first quarter valued at approximately $730,000. LPL Financial LLC grew its stake in shares of NextNav by 8.0% during the first quarter. LPL Financial LLC now owns 171,821 shares of the company’s stock worth $2,091,000 after buying an additional 12,718 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of NextNav during the first quarter worth $430,000. Institutional investors own 79.16% of the company’s stock.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.