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

by · The Cerbat Gem

NextNav Inc. (NASDAQ:NN – Get Free Report) CEO Mariam Sorond sold 2,831 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $14.72, for a total value of $41,672.32. Following the completion of the sale, the chief executive officer owned 1,168,961 shares in the company, valued at $17,207,105.92. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Price Performance

Shares of NN stock opened at $14.22 on Friday. The business’s 50 day simple moving average is $15.29 and its 200 day simple moving average is $17.46. NextNav Inc. has a one year low of $10.87 and a one year high of $24.42. The stock has a market capitalization of $2.40 billion, a PE ratio of -14.66 and a beta of 1.12.

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

Institutional Trading of NextNav

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlueCrest Capital Management Ltd acquired a new position in NextNav during the second quarter worth $4,012,000. Squarepoint Ops LLC increased its position in shares of NextNav by 592.0% during the second quarter. Squarepoint Ops LLC now owns 113,073 shares of the company’s stock worth $2,016,000 after acquiring an additional 96,734 shares in the last quarter. Corient Private Wealth LP increased its position in shares of NextNav by 66.7% during the second quarter. Corient Private Wealth LP now owns 30,975 shares of the company’s stock worth $552,000 after acquiring an additional 12,393 shares in the last quarter. Grove Bank & Trust acquired a new stake in shares of NextNav in the 2nd quarter worth about $53,000. Finally, Bank of America Corp DE raised its holdings in shares of NextNav by 1.2% in the 1st quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock worth $4,165,000 after acquiring an additional 3,028 shares during the last quarter. Institutional investors own 79.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NN shares. Odeon Capital Group began coverage on NextNav in a research report on Monday, July 20th. They set a “buy” rating and a $22.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Zacks Research downgraded shares of NextNav from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Oppenheimer increased their price objective on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded NextNav from a “sell” rating to a “hold” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.33.

Read Our Latest Stock Analysis on NextNav

NextNav Company Profile

(Get Free Report)

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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