NextNav (NASDAQ:NN) CEO Mariam Sorond Sells 69,853 Shares of Stock

by · The Cerbat Gem

NextNav Inc. (NASDAQ:NN – Get Free Report) CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the transaction, the chief executive officer owned 1,270,946 shares in the company, valued at $21,491,696.86. This represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NextNav Trading Up 1.2%

Shares of NASDAQ NN traded up $0.20 during mid-day trading on Thursday, reaching $16.56. 1,167,544 shares of the company’s stock were exchanged, compared to its average volume of 991,315. The firm has a 50-day moving average price of $15.80 and a two-hundred day moving average price of $15.19. NextNav Inc. has a 52 week low of $9.48 and a 52 week high of $18.25.

Analysts Set New Price Targets

NN has been the subject of several research analyst reports. Wall Street Zen lowered NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NextNav presently has an average rating of “Reduce”.

View Our Latest Analysis on NextNav

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NN. AlphaQuest LLC bought a new stake in shares of NextNav during the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after buying an additional 1,721 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of NextNav in the third quarter worth about $52,000. FWL Investment Management LLC bought a new stake in shares of NextNav in the 2nd quarter worth about $70,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in NextNav during the fourth quarter valued at approximately $97,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Company Profile

(Get Free Report)

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.

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