Key Points
- CEO Mariam Sorond sold 69,853 NextNav shares at an average price of $15.30, totaling about $1.07 million. The pre-arranged Rule 10b5-1 sale was intended to cover tax withholding tied to vested equity awards, reducing her ownership by 5.63% to 1.17 million shares.
- NextNav shares opened at $15.72, with a $2.65 billion market capitalization, but the company remains unprofitable. Its latest quarterly loss of $0.24 per share missed estimates, despite revenue of $1.15 million exceeding expectations.
- Analyst sentiment is mixed, with ratings ranging from sell to buy and an overall “Hold” consensus. The average analyst price target is $32.33, while institutional investors own approximately 79.16% of the company.
NextNav Inc. (NASDAQ:NN - Get Free Report) CEO Mariam Sorond sold 69,853 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $15.30, for a total value of $1,068,750.90. Following the sale, the chief executive officer owned 1,171,792 shares of the company's stock, valued at approximately $17,928,417.60. This represents a 5.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.
Mariam Sorond also recently made the following trade(s):
- On Tuesday, June 16th, Mariam Sorond sold 2,830 shares of NextNav stock. The stock was sold at an average price of $18.33, for a total transaction of $51,873.90.
NextNav Stock Up 2.4%
Shares of NASDAQ:NN opened at $15.72 on Friday. The stock has a market capitalization of $2.65 billion, a PE ratio of -16.21 and a beta of 1.12. The firm's 50 day moving average price is $15.73 and its 200-day moving average price is $17.58. NextNav Inc. has a twelve month low of $10.87 and a twelve month high of $24.42.
NextNav (NASDAQ:NN - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. The business had revenue of $1.15 million for the quarter, compared to the consensus estimate of $0.92 million. Analysts expect that NextNav Inc. will post -0.46 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NN. Wall Street Zen downgraded shares of NextNav from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Zacks Research lowered NextNav from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Odeon Capital Group initiated coverage on NextNav in a report on Monday, July 20th. They issued a "buy" rating and a $22.00 target price on the stock. Oppenheimer lifted their target price on NextNav from $25.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextNav in a report on Friday, July 17th. Three 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $32.33.
Read Our Latest Report on NextNav
Institutional Trading of NextNav
Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NextNav by 8.1% during the first 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of NextNav by 34.5% in the first 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 lifted its position in shares of NextNav by 81.5% in 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 in the last quarter. 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 valued at $939,000 after buying an additional 15,565 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in 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 buying an additional 13,027 shares during the last quarter. Hedge funds and other institutional investors own 79.16% of the company's stock.
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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