Mariam Sorond Sells 69,853 Shares of NextNav (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the completion of the transaction, the chief executive officer directly owned 1,270,946 shares of the company’s stock, valued at approximately $21,491,696.86. This represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NextNav Trading Up 1.2%

NASDAQ NN traded up $0.20 during trading hours on Thursday, hitting $16.56. The company’s stock had a trading volume of 1,167,544 shares, compared to its average volume of 991,315. NextNav Inc. has a twelve month low of $9.48 and a twelve month high of $18.25. The stock has a fifty day moving average of $15.80 and a 200 day moving average of $15.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. Wall Street Zen lowered NextNav from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. 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 currently has an average rating of “Reduce”.

Hedge Funds Weigh In On NextNav

Several hedge funds have recently bought and sold shares of NN. Geode Capital Management LLC boosted its stake in NextNav by 6.3% in the second quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock valued at $29,385,000 after buying an additional 115,261 shares in the last quarter. Squarepoint Ops LLC raised its position in NextNav by 419.1% in the second quarter. Squarepoint Ops LLC now owns 125,546 shares of the company’s stock valued at $1,908,000 after purchasing an additional 101,360 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in NextNav during the 2nd quarter worth approximately $441,000. DCF Advisers LLC raised its position in NextNav by 53.8% during the 2nd quarter. DCF Advisers LLC now owns 20,000 shares of the company’s stock worth $304,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of NextNav in the second quarter worth approximately $230,000. 79.16% of the stock is owned by 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.