Bank of America Corp DE Sells 364,787 Shares of NextNav Inc. (NASDAQ:NN)

Bank of America Corp DE decreased its position in NextNav Inc. (NASDAQ:NN - Free Report) by 79.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 92,001 shares of the company's stock after selling 364,787 shares during the period. Bank of America Corp DE owned about 0.07% of NextNav worth $1,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE acquired a new position in NextNav in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its stake in shares of NextNav by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after buying an additional 1,018 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of NextNav during the 4th quarter valued at $78,000. Wharton Business Group LLC acquired a new stake in shares of NextNav during the 4th quarter valued at $156,000. Finally, Mission Wealth Management LP acquired a new stake in shares of NextNav during the 4th quarter valued at $156,000. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Buying and Selling at NextNav

In other news, CFO Christian D. Gates sold 5,730 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.24, for a total transaction of $64,405.20. Following the transaction, the chief financial officer now owns 857,206 shares in the company, valued at approximately $9,634,995.44. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sammaad Shams sold 4,005 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the transaction, the chief accounting officer now owns 81,100 shares in the company, valued at $909,131. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,705 shares of company stock valued at $816,495 in the last quarter. Company insiders own 7.70% of the company's stock.

NextNav Stock Up 4.0%

Shares of NASDAQ:NN traded up $0.47 during trading on Monday, reaching $12.33. 883,101 shares of the company traded hands, compared to its average volume of 1,089,281. The firm has a fifty day simple moving average of $12.40 and a 200 day simple moving average of $13.09. The firm has a market cap of $1.63 billion, a P/E ratio of -16.44 and a beta of 1.00. NextNav Inc. has a 1-year low of $6.47 and a 1-year high of $18.54. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

NextNav (NASDAQ:NN - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.54 million for the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. Analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

NextNav Profile

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.