Key Points
- NextNav CAO Sammaad Shams sold 2,006 shares on Monday, June 29 at an average price of $17.84, totaling about $35,787. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
- After the transaction, Shams still directly owned 70,944 shares valued at about $1.27 million, representing a 2.75% decrease in his ownership stake.
- NextNav recently beat quarterly EPS and revenue estimates, but analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with a $37.50 price target, while institutional ownership remains high at 79.16%.
NextNav Inc. (NASDAQ:NN - Get Free Report) CAO Sammaad Shams sold 2,006 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $17.84, for a total transaction of $35,787.04. Following the completion of the transaction, the chief accounting officer directly owned 70,944 shares in the company, valued at $1,265,640.96. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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.
NextNav Stock Performance
NASDAQ:NN opened at $17.83 on Wednesday. The stock has a 50 day moving average of $19.99 and a two-hundred day moving average of $17.65. NextNav Inc. has a 12 month low of $10.87 and a 12 month high of $24.42. The firm has a market cap of $2.43 billion, a P/E ratio of -14.74 and a beta of 1.04.
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, topping analysts' consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.94 million. On average, research analysts forecast that NextNav Inc. will post -0.48 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NextNav by 8.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company's stock valued at $579,000 after purchasing an additional 3,543 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in NextNav by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company's stock valued at $5,705,000 after buying an additional 120,123 shares during the last quarter. Creative Planning boosted its stake in NextNav by 81.5% during the second quarter. Creative Planning now owns 29,184 shares of the company's stock worth $444,000 after buying an additional 13,109 shares during the period. JPMorgan Chase & Co. boosted its stake in NextNav by 33.7% during the second quarter. JPMorgan Chase & Co. now owns 61,772 shares of the company's stock worth $939,000 after buying an additional 15,565 shares during the period. Finally, Legal & General Group Plc increased its position in shares of NextNav by 23.3% during the second quarter. Legal & General Group Plc now owns 68,946 shares of the company's stock valued at $1,048,000 after acquiring an additional 13,027 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on NN. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextNav in a research report on Tuesday, April 21st. B. Riley Financial reaffirmed a "buy" rating on shares of NextNav in a research note on Thursday, April 23rd. UBS Group set a $25.00 price objective on shares of NextNav in a report on Thursday, April 16th. Oppenheimer boosted their target price on NextNav from $25.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised NextNav from a "strong sell" rating to a "hold" rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $37.50.
Read Our Latest Stock Report on NN
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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