NextNav Inc. (NASDAQ:NN - Get Free Report) General Counsel James Black sold 1,878 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $22.96, for a total value of $43,118.88. Following the completion of the sale, the general counsel directly owned 91,688 shares in the company, valued at approximately $2,105,156.48. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Performance
Shares of NASDAQ:NN opened at $18.92 on Wednesday. The company has a market cap of $2.58 billion, a P/E ratio of -15.64 and a beta of 1.04. The stock's 50-day moving average is $19.89 and its 200-day moving average is $17.48. NextNav Inc. has a 52-week low of $10.87 and a 52-week high of $24.42.
NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.94 million. As a group, equities analysts predict that NextNav Inc. will post -0.5 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have commented on the company. UBS Group set a $25.00 price target on NextNav in a report on Thursday, April 16th. Weiss Ratings restated a "sell (d-)" rating on shares of NextNav in a research report on Tuesday, April 21st. Oppenheimer upped their target price on NextNav from $25.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Wall Street Zen raised NextNav from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of NextNav in a research report on Thursday, April 23rd. Two analysts have rated the stock with 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 company has a consensus rating of "Hold" and a consensus target price of $37.50.
Get Our Latest Research Report on NextNav
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in NextNav by 79.5% during the fourth quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company's stock valued at $22,955,000 after purchasing an additional 611,179 shares in the last quarter. Susquehanna Advisors Group Inc. boosted its holdings in NextNav by 12.1% during the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company's stock valued at $77,325,000 after purchasing an additional 584,804 shares in the last quarter. Vanguard Group Inc. boosted its holdings in NextNav by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company's stock valued at $115,361,000 after purchasing an additional 573,214 shares in the last quarter. Philosophy Capital Management LLC acquired a new stake in NextNav during the third quarter valued at approximately $7,791,000. Finally, UBS Group AG boosted its holdings in NextNav by 35.0% during the fourth quarter. UBS Group AG now owns 1,991,825 shares of the company's stock valued at $33,144,000 after purchasing an additional 516,045 shares in the last quarter. 79.16% of the stock is owned by institutional investors.
About NextNav
(
Get Free Report)
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.
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