Insider Selling: NextNav (NASDAQ:NN) CAO Sells $23,072.64 in Stock

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

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

• On Wednesday, September 16th, Sammaad Shams sold 430 shares of NextNav stock. The stock was 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 Down 6.1%

Shares of NASDAQ NN opened at $14.39 on Thursday. NextNav Inc. has a fifty-two week low of $10.87 and a fifty-two week high of $24.42. The firm’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $17.43. The stock has a market cap of $2.43 billion, a P/E ratio of -14.83 and a beta of 1.12.

NextNav (NASDAQ:NN) last announced 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 company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. On average, sell-side analysts anticipate that NextNav Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextNav

Institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new stake in shares of NextNav during the 2nd quarter worth $4,012,000. Sona Asset Management US LLC raised its position in shares of NextNav by 37.9% during the first quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock worth $8,354,000 after purchasing an additional 143,349 shares during the period. State Street Corp lifted its holdings in shares of NextNav by 4.8% during the second quarter. State Street Corp now owns 2,343,255 shares of the company’s stock valued at $41,780,000 after purchasing an additional 108,338 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of NextNav by 592.0% during the second quarter. Squarepoint Ops LLC now owns 113,073 shares of the company’s stock valued at $2,016,000 after purchasing an additional 96,734 shares during the last quarter. Finally, Wittenberg Investment Management Inc. boosted its position in shares of NextNav by 384.2% in the 4th quarter. Wittenberg Investment Management Inc. now owns 121,056 shares of the company’s stock valued at $2,014,000 after purchasing an additional 96,056 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

Wall Street Analyst Weigh In

NN has been the topic of several recent analyst reports. Odeon Capital Group started coverage on NextNav in a report on Monday, July 20th. They set a “buy” rating and a $22.00 target price on the stock. Zacks Research lowered NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Friday, July 17th. Wells Fargo & Company reissued a “buy” rating on shares of NextNav in a research note on Monday. Finally, Wall Street Zen upgraded NextNav from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.