NextNav Inc. (NASDAQ:NN) CEO Sells $3,280,000.00 in Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the transaction, the chief executive officer now owns 1,574,117 shares of the company’s stock, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NextNav Stock Performance

Shares of NextNav stock traded up $0.14 during trading hours on Thursday, hitting $17.04. 733,640 shares of the company’s stock traded hands, compared to its average volume of 877,621. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $11.85 and a 200-day simple moving average of $9.16. NextNav Inc. has a 12-month low of $3.55 and a 12-month high of $18.10.

Institutional Trading of NextNav

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of NextNav in the 2nd quarter worth approximately $50,000. Principal Financial Group Inc. bought a new stake in NextNav in the second quarter worth $82,000. Quest Partners LLC purchased a new stake in NextNav during the second quarter valued at about $88,000. King Luther Capital Management Corp bought a new position in shares of NextNav during the third quarter valued at about $90,000. Finally, Wolverine Asset Management LLC grew its stake in shares of NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after buying an additional 9,248 shares during the last quarter. Institutional investors own 79.16% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley raised their price target on shares of NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

About NextNav

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.