Mariam Sorond Sells 2,831 Shares of NextNav (NASDAQ:NN) Stock

Key Points

• CEO Mariam Sorond sold 2,831 NextNav shares at an average price of $14.72, generating $41,672.32. The sale occurred under a pre-arranged Rule 10b5-1 plan to cover tax obligations, reducing her direct holdings by 0.24%.
• NextNav shares rose 2.1% to $14.92, but the company recently reported a quarterly loss of $0.24 per share, worse than analysts’ expected loss of $0.16, despite revenue exceeding estimates.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $32.33 average price target. Institutional investors own approximately 79.16% of the company.

NextNav Inc. (NASDAQ:NN - Get Free Report) CEO Mariam Sorond sold 2,831 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $14.72, for a total transaction of $41,672.32. Following the transaction, the chief executive officer directly owned 1,168,961 shares of the company's stock, valued at approximately $17,207,105.92. This represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

Mariam Sorond also recently made the following trade(s):

• On Thursday, September 3rd, Mariam Sorond sold 69,853 shares of NextNav stock. The stock was sold at an average price of $15.30, for a total value of $1,068,750.90.

NextNav Trading Up 2.1%

NextNav stock traded up $0.30 during mid-day trading on Thursday, hitting $14.92. The stock had a trading volume of 1,716,443 shares, compared to its average volume of 2,149,865. The stock has a 50-day simple moving average of $15.32 and a two-hundred day simple moving average of $17.48. The stock has a market capitalization of $2.52 billion, a PE ratio of -15.38 and a beta of 1.12. NextNav Inc. has a 12 month low of $10.87 and a 12 month high of $24.42.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. Sell-side analysts expect that NextNav Inc. will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NN has been the topic of a number of recent analyst reports. Odeon Capital Group assumed coverage on NextNav in a research report on Monday, July 20th. They issued a "buy" rating and a $22.00 target price on the stock. Wall Street Zen cut NextNav from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Oppenheimer boosted their price target on shares of NextNav from $25.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Zacks Research downgraded NextNav from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextNav in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.33.

Institutional Investors Weigh In On NextNav

Large investors have recently made changes to their positions in the business. Sona Asset Management US LLC grew its position in shares of NextNav by 37.9% in the 1st quarter. Sona Asset Management US LLC now owns 521,477 shares of the company's stock worth $8,354,000 after buying an additional 143,349 shares during the period. Wittenberg Investment Management Inc. boosted its position in NextNav by 384.2% in the fourth quarter. Wittenberg Investment Management Inc. now owns 121,056 shares of the company's stock worth $2,014,000 after purchasing an additional 96,056 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of NextNav during the 2nd quarter valued at $4,012,000. Squarepoint Ops LLC grew its stake in shares of NextNav by 592.0% during the 2nd quarter. Squarepoint Ops LLC now owns 113,073 shares of the company's stock valued at $2,016,000 after acquiring an additional 96,734 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in NextNav by 12.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 384,040 shares of the company's stock worth $6,390,000 after buying an additional 41,004 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Company Profile

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.

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