Sammaad Shams Sells 2,006 Shares of NextNav (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) CAO Sammaad Shams sold 2,006 shares of NextNav stock in a transaction on Monday, June 29th. The shares were sold at an average price of $17.84, for a total value of $35,787.04. Following the completion of the transaction, the chief accounting officer owned 70,944 shares in the company, valued at approximately $1,265,640.96. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 Stock Down 0.4%

Shares of NN stock opened at $17.75 on Thursday. NextNav Inc. has a twelve month low of $10.87 and a twelve month high of $24.42. The company has a market cap of $2.42 billion, a P/E ratio of -14.67 and a beta of 1.07. The business has a fifty day simple moving average of $19.88 and a 200 day simple moving average of $17.66.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.94 million. As a group, equities research analysts anticipate that NextNav Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NN shares. Oppenheimer lifted their price target on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. UBS Group set a $25.00 target price on NextNav in a report on Thursday, April 16th. B. Riley Financial reaffirmed a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NextNav by 8.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company’s stock worth $579,000 after purchasing an additional 3,543 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of NextNav by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock worth $5,705,000 after buying an additional 120,123 shares in the last quarter. Creative Planning boosted its holdings in shares of NextNav by 81.5% during the 2nd quarter. Creative Planning now owns 29,184 shares of the company’s stock worth $444,000 after buying an additional 13,109 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NextNav by 33.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 61,772 shares of the company’s stock worth $939,000 after buying an additional 15,565 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of NextNav by 23.3% during the 2nd quarter. Legal & General Group Plc now owns 68,946 shares of the company’s stock worth $1,048,000 after buying an additional 13,027 shares during the period. 79.16% of the stock is owned by institutional investors and hedge funds.

About NextNav

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.