Insider Selling: NextNav (NASDAQ:NN) CAO Sells 1,767 Shares of Stock

NextNav Inc. (NASDAQ:NN) CAO Sammaad Shams sold 1,767 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.11, for a total transaction of $32,000.37. Following the transaction, the chief accounting officer owned 76,895 shares in the company, valued at $1,392,568.45. This represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sammaad Shams also recently made the following trade(s):

• On Thursday, March 19th, Sammaad Shams sold 115 shares of NextNav stock. The shares were sold at an average price of $17.80, for a total transaction of $2,047.00.
• On Tuesday, March 17th, Sammaad Shams sold 3,297 shares of NextNav stock. The stock was sold at an average price of $16.86, for a total transaction of $55,587.42.

NextNav Stock Performance

Shares of NN traded up $0.73 during mid-day trading on Monday, hitting $18.68. 1,862,252 shares of the company traded hands, compared to its average volume of 1,325,877. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -12.13 and a beta of 0.96. The stock has a 50-day moving average price of $16.17 and a two-hundred day moving average price of $15.26. NextNav Inc. has a 1 year low of $10.64 and a 1 year high of $19.91.

NextNav (NASDAQ:NN) last issued its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). NextNav had a negative net margin of 4,503.43% and a negative return on equity of 556.83%. The company had revenue of $0.95 million for the quarter, compared to analysts’ expectations of $0.86 million. On average, analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

Institutional Trading of NextNav

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of NextNav by 6.3% in the second quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock worth $29,385,000 after purchasing an additional 115,261 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of NextNav by 419.1% during the 2nd quarter. Squarepoint Ops LLC now owns 125,546 shares of the company’s stock valued at $1,908,000 after buying an additional 101,360 shares in the last quarter. DCF Advisers LLC boosted its holdings in NextNav by 53.8% in the 2nd quarter. DCF Advisers LLC now owns 20,000 shares of the company’s stock worth $304,000 after buying an additional 7,000 shares during the period. Corsair Capital Management L.P. boosted its holdings in NextNav by 17.3% in the 2nd quarter. Corsair Capital Management L.P. now owns 67,777 shares of the company’s stock worth $1,030,000 after buying an additional 10,000 shares during the period. Finally, MAI Capital Management increased its stake in NextNav by 14.1% in the 2nd quarter. MAI Capital Management now owns 56,519 shares of the company’s stock worth $859,000 after buying an additional 6,982 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NextNav has a consensus rating of “Reduce”.

NextNav Company Profile

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.