Key Points
- NextNav General Counsel James Black sold 1,878 shares at an average price of $15.34, generating $28,808.52. The sale, conducted under a Rule 10b5-1 plan, covered tax withholding obligations, leaving him with 89,810 shares.
- NextNav shares opened at $14.62 and have declined 2.0%, with a market capitalization of approximately $2.47 billion. The company recently reported a quarterly loss of $0.24 per share, missing the $0.16 consensus estimate, despite revenue exceeding expectations.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $32.33. Institutional investors own approximately 79.16% of NextNav’s outstanding shares.
NextNav Inc. (NASDAQ:NN - Get Free Report) General Counsel James Black sold 1,878 shares of NextNav stock in a transaction on Monday, September 14th. The shares were sold at an average price of $15.34, for a total transaction of $28,808.52. Following the completion of the sale, the general counsel directly owned 89,810 shares of the company's stock, valued at approximately $1,377,685.40. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Trading Down 2.0%
Shares of NN stock opened at $14.62 on Thursday. The firm has a fifty day simple moving average of $15.36 and a two-hundred day simple moving average of $17.49. NextNav Inc. has a 12 month low of $10.87 and a 12 month high of $24.42. The firm has a market capitalization of $2.47 billion, a PE ratio of -15.07 and a beta of 1.12.
NextNav (NASDAQ:NN - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.08). The business had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative net margin of 3,232.19% and a negative return on equity of 211.25%. On average, equities analysts predict that NextNav Inc. will post -0.46 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Odeon Capital Group started coverage on shares of NextNav in a research report on Monday, July 20th. They issued a "buy" rating and a $22.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of NextNav in a report on Friday, July 17th. Oppenheimer increased their price objective on NextNav from $25.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. Zacks Research lowered NextNav from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. Finally, Wall Street Zen cut NextNav from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Three 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 stock. According to data from MarketBeat.com, NextNav has a consensus rating of "Hold" and an average target price of $32.33.
Read Our Latest Stock Report on NN
Institutional Trading of NextNav
Several institutional investors and hedge funds have recently made changes to their positions in the company. Sona Asset Management US LLC lifted its position in shares of NextNav by 37.9% during the first quarter. Sona Asset Management US LLC now owns 521,477 shares of the company's stock valued at $8,354,000 after purchasing an additional 143,349 shares in the last quarter. Commonwealth Equity Services LLC grew its position in NextNav by 12.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 384,040 shares of the company's stock worth $6,390,000 after purchasing an additional 41,004 shares in the last quarter. First Trust Advisors LP grew its position in NextNav by 3.8% in the 1st quarter. First Trust Advisors LP now owns 296,391 shares of the company's stock worth $4,748,000 after purchasing an additional 10,761 shares in the last quarter. Bank of America Corp DE increased its stake in NextNav by 1.2% in the 1st quarter. Bank of America Corp DE now owns 260,018 shares of the company's stock valued at $4,165,000 after buying an additional 3,028 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in NextNav in the 2nd quarter valued at about $4,012,000. Hedge funds and other institutional investors own 79.16% of the company's stock.
About NextNav
(
Get Free Report)
NextNav Inc (NASDAQ: NN) is a positioning, navigation and timing technology company that develops alternatives and complements to GPS. Its services are designed to provide accurate location and timing information in environments where GPS signals may be weak, unavailable or unreliable, including indoors and in urban areas.
The company's primary offerings include Pinnacle, a 3D geolocation service that provides precise vertical positioning, and TerraPoiNT, a terrestrial network designed to deliver resilient positioning, navigation and timing signals.
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