Joseph Samberg Sells 600,000 Shares of NextNav (NASDAQ:NN) Stock

by · The Markets Daily

NextNav Inc. (NASDAQ:NN – Get Free Report) major shareholder Joseph Samberg sold 600,000 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $12.35, for a total transaction of $7,410,000.00. Following the transaction, the insider directly owned 760,000 shares in the company, valued at approximately $9,386,000. This represents a 44.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

NextNav Stock Down 0.5%

NN traded down $0.06 during midday trading on Monday, hitting $12.61. The company had a trading volume of 949,690 shares, compared to its average volume of 1,353,491. The stock’s 50 day moving average price is $14.31 and its 200 day moving average price is $14.43. NextNav Inc. has a 52 week low of $9.05 and a 52 week high of $18.54. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -9.70 and a beta of 0.99. The company has a quick ratio of 11.54, a current ratio of 11.53 and a debt-to-equity ratio of 32.42.

NextNav (NASDAQ:NN – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. On average, research analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently modified their holdings of NN. Interval Partners LP purchased a new position in NextNav during the 1st quarter worth $9,827,000. Vanguard Group Inc. raised its holdings in shares of NextNav by 17.8% in the first quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company’s stock valued at $57,591,000 after purchasing an additional 715,171 shares during the last quarter. Susquehanna Advisors Group Inc. lifted its position in shares of NextNav by 12.1% during the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock valued at $77,325,000 after purchasing an additional 584,804 shares in the last quarter. Philosophy Capital Management LLC bought a new position in shares of NextNav during the third quarter valued at about $7,791,000. Finally, Troluce Capital Advisors LLC purchased a new position in NextNav during the first quarter worth about $5,132,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NN. Wall Street Zen cut NextNav from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

Read Our Latest Research Report on NextNav

NextNav Company Profile

(Get Free Report)

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.

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