James Black Sells 1,878 Shares of NextNav (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) General Counsel James Black sold 1,878 shares of NextNav stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $15.34, for a total value of $28,808.52. Following the completion of the transaction, the general counsel directly owned 89,810 shares of the company’s stock, valued at approximately $1,377,685.40. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.

NextNav Price Performance

Shares of NASDAQ:NN opened at $14.92 on Friday. NextNav Inc. has a 1 year low of $10.87 and a 1 year high of $24.42. The business’s 50-day moving average is $15.32 and its 200-day moving average is $17.48. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -15.38 and a beta of 1.12.

NextNav (NASDAQ:NN) last released its earnings results 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 return on equity of 211.25% and a negative net margin of 3,232.19%.The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million. Analysts anticipate that NextNav Inc. will post -0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Odeon Capital Group initiated coverage on shares of 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. Oppenheimer upped their price objective on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Zacks Research cut shares of NextNav from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen cut shares of NextNav from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.33.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently made changes to their positions in NN. KBC Group NV purchased a new position in NextNav during the first quarter worth about $38,000. Grove Bank & Trust purchased a new stake in NextNav in the 2nd quarter valued at about $53,000. Caitong International Asset Management Co. Ltd lifted its position in shares of NextNav by 732.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after buying an additional 3,631 shares in the last quarter. Sei Investments Co. purchased a new position in shares of NextNav in the 1st quarter worth approximately $231,000. Finally, Bleakley Financial Group LLC bought a new position in shares of NextNav in the fourth quarter valued at approximately $245,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

About NextNav

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.