NextNav (NASDAQ:NN) CFO Timothy Gray Sells 11,099 Shares of Company Stock

NextNav Inc. (NASDAQ:NN) CFO Timothy Gray sold 11,099 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $14.64, for a total value of $162,489.36. Following the transaction, the chief financial officer directly owned 120,687 shares of the company’s stock, valued at $1,766,857.68. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NextNav Stock Down 0.5%

Shares of NN stock opened at $14.38 on Friday. The business has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $17.40. The company has a market cap of $2.43 billion, a P/E ratio of -14.82 and a beta of 1.12. NextNav Inc. has a twelve month low of $10.87 and a twelve month high of $24.42.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on NN shares. Clear Str upgraded shares of NextNav to a “strong-buy” rating in a research report on Monday, September 21st. Zacks Research downgraded shares of NextNav from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Wells Fargo & Company reiterated a “buy” rating on shares of NextNav in a research note on Monday. Odeon Capital Group began coverage on NextNav in a report on Monday, July 20th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Wall Street Zen upgraded NextNav from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Institutional Investors Weigh In On NextNav

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cannell & Spears LLC lifted its stake in shares of NextNav by 0.7% in the first quarter. Cannell & Spears LLC now owns 122,851 shares of the company’s stock worth $1,961,000 after acquiring an additional 899 shares during the period. Greenhaven Road Investment Management L.P. increased its position in NextNav by 3.3% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 62,000 shares of the company’s stock valued at $1,032,000 after purchasing an additional 2,000 shares during the period. ProShare Advisors LLC increased its position in NextNav by 14.9% during the 4th quarter. ProShare Advisors LLC now owns 17,308 shares of the company’s stock valued at $288,000 after purchasing an additional 2,251 shares during the period. KBC Group NV bought a new position in NextNav during the 1st quarter worth approximately $38,000. Finally, Grove Bank & Trust bought a new position in NextNav during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds 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.