NextNav (NASDAQ:NN) CAO Sammaad Shams Sells 2,006 Shares

NextNav Inc. (NASDAQ:NN) CAO Sammaad Shams sold 2,006 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $17.84, for a total value of $35,787.04. Following the sale, the chief accounting officer owned 70,944 shares in the company, valued at $1,265,640.96. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Price Performance

NN stock opened at $17.83 on Wednesday. The firm has a 50 day moving average of $19.99 and a 200 day moving average of $17.65. The stock has a market capitalization of $2.43 billion, a PE ratio of -14.74 and a beta of 1.04. NextNav Inc. has a 52 week low of $10.87 and a 52 week high of $24.42.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.94 million. On average, equities research analysts expect that NextNav Inc. will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Wall Street Zen raised shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer boosted their target price on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. Finally, UBS Group set a $25.00 price target on NextNav in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, NextNav currently has an average rating of “Hold” and an average price target of $37.50.

Institutional Investors Weigh In On NextNav

A number of institutional investors have recently modified their holdings of NN. Caitong International Asset Management Co. Ltd raised its holdings in NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after purchasing an additional 1,721 shares during the period. KBC Group NV purchased a new stake in shares of NextNav in the first quarter valued at approximately $38,000. Clearstead Advisors LLC acquired a new position in shares of NextNav during the 3rd quarter worth approximately $52,000. Kemnay Advisory Services Inc. acquired a new stake in NextNav in the 4th quarter valued at $97,000. Finally, Osterweis Capital Management Inc. purchased a new stake in NextNav in the 4th quarter worth $109,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Company Profile

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.