Key Points
- NextNav CEO Mariam Sorond sold 2,830 shares on June 16 at an average price of $18.33, totaling about $51,873.90. The sale was part of a pre-arranged Rule 10b5-1 plan and was tied to tax withholding from vested equity awards.
- Sorond had also sold a much larger block of 69,853 shares earlier in June for about $1.39 million, highlighting continued insider selling activity.
- NextNav recently reported better-than-expected quarterly results, with EPS of -$0.12 versus the -$0.15 consensus and revenue of $0.99 million above estimates. Analyst opinions remain mixed, with a consensus rating of Hold and a target price of $37.50.
NextNav Inc. (NASDAQ:NN - Get Free Report) CEO Mariam Sorond sold 2,830 shares of NextNav stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $18.33, for a total transaction of $51,873.90. Following the sale, the chief executive officer owned 1,241,665 shares of the company's stock, valued at approximately $22,759,719.45. This trade represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.
Mariam Sorond also recently made the following trade(s):
- On Monday, June 1st, Mariam Sorond sold 69,853 shares of NextNav stock. The shares were sold at an average price of $19.92, for a total transaction of $1,391,471.76.
NextNav Stock Performance
Shares of NN opened at $18.18 on Friday. NextNav Inc. has a 1 year low of $10.87 and a 1 year high of $24.42. The company's 50 day simple moving average is $19.99 and its 200 day simple moving average is $17.54. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -15.02 and a beta of 1.04.
NextNav (NASDAQ:NN - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to analysts' expectations of $0.94 million. Equities analysts expect that NextNav Inc. will post -0.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its stake in NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company's stock worth $37,000 after buying an additional 1,721 shares during the period. KBC Group NV purchased a new position in shares of NextNav in the 1st quarter valued at $38,000. Clearstead Advisors LLC purchased a new position in shares of NextNav in the 3rd quarter valued at $52,000. Kemnay Advisory Services Inc. acquired a new position in shares of NextNav during the 4th quarter valued at $97,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of NextNav during the 4th quarter valued at $109,000. Institutional investors and hedge funds own 79.16% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on NN shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextNav in a research note on Tuesday, April 21st. Oppenheimer raised their price target on NextNav from $25.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded NextNav from a "strong sell" rating to a "hold" rating in a report on Saturday, May 16th. UBS Group set a $25.00 price objective on shares of NextNav in a research note on Thursday, April 16th. Finally, B. Riley Financial reiterated a "buy" rating on shares of NextNav in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.50.
Get Our Latest Analysis on NN
NextNav Company Profile
(
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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