Key Points
- NextNav’s chief accounting officer sold 1,576 shares for $23,072.64 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards, reducing the position by 2.24%.
- NextNav shares opened at $15.66, with a market capitalization of approximately $2.64 billion. The company recently reported a quarterly loss of $0.24 per share, missing estimates, while revenue of $1.15 million exceeded expectations.
- Institutional investors own 79.16% of the stock, and analysts maintain a “Moderate Buy” consensus with an average price target of $32.33, despite mixed individual ratings.
NextNav Inc. (NASDAQ:NN - Get Free Report) CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $14.64, for a total value of $23,072.64. Following the transaction, the chief accounting officer owned 68,938 shares of the company's stock, valued at $1,009,252.32. The trade was a 2.24% decrease in their position. The transaction was disclosed in a document filed 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.
Sammaad Shams also recently made the following trade(s):
- On Wednesday, September 16th, Sammaad Shams sold 430 shares of NextNav stock. The stock was sold at an average price of $14.79, for a total value of $6,359.70.
- On Monday, June 29th, Sammaad Shams sold 2,006 shares of NextNav stock. The shares were sold at an average price of $17.84, for a total value of $35,787.04.
NextNav Stock Up 10.1%
NN opened at $15.66 on Tuesday. NextNav Inc. has a 12-month low of $10.87 and a 12-month high of $24.42. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -16.14 and a beta of 1.12. The business has a 50 day moving average of $15.29 and a 200-day moving average of $17.45.
NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results 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). NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%.The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million. As a group, analysts expect that NextNav Inc. will post -0.46 earnings per share for the current year.
Institutional Trading of NextNav
Institutional investors have recently added to or reduced their stakes in the company. Sona Asset Management US LLC grew its holdings in NextNav by 37.9% in the 1st quarter. Sona Asset Management US LLC now owns 521,477 shares of the company's stock valued at $8,354,000 after buying an additional 143,349 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of NextNav by 12.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 384,040 shares of the company's stock worth $6,390,000 after buying an additional 41,004 shares in the last quarter. First Trust Advisors LP boosted its position in shares of NextNav by 3.8% in the first quarter. First Trust Advisors LP now owns 296,391 shares of the company's stock valued at $4,748,000 after acquiring an additional 10,761 shares during the period. Bank of America Corp DE boosted its position in shares of NextNav by 1.2% in the first quarter. Bank of America Corp DE now owns 260,018 shares of the company's stock valued at $4,165,000 after acquiring an additional 3,028 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of NextNav in the second quarter valued at about $4,012,000. 79.16% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on NN shares. Zacks Research downgraded shares of NextNav from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. Wall Street Zen upgraded shares of NextNav from a "sell" rating to a "hold" rating in a research note on Saturday. Odeon Capital Group began coverage on shares of NextNav in a report on Monday, July 20th. They set a "buy" rating and a $22.00 target price for the company. Oppenheimer upped their price target on shares of NextNav from $25.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextNav in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NextNav presently has a consensus rating of "Moderate Buy" and an average target price of $32.33.
Read Our Latest Stock Analysis on NextNav
NextNav Company Profile
(
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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