Insider Selling: NextNav (NASDAQ:NN) CFO Sells 1,405 Shares of Stock

NextNav Inc. (NASDAQ:NN) CFO Timothy Gray sold 1,405 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.11, for a total transaction of $25,444.55. Following the sale, the chief financial officer owned 131,786 shares of the company’s stock, valued at $2,386,644.46. This represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NextNav Price Performance

Shares of NextNav stock traded up $0.73 during trading hours on Monday, hitting $18.68. The company had a trading volume of 1,862,252 shares, compared to its average volume of 1,325,877. The company’s 50-day moving average is $16.17 and its two-hundred day moving average is $15.26. The company has a market cap of $2.53 billion, a P/E ratio of -12.13 and a beta of 0.96. NextNav Inc. has a twelve month low of $10.64 and a twelve month high of $19.91.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). NextNav had a negative net margin of 4,503.43% and a negative return on equity of 556.83%. The firm had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.86 million. Sell-side analysts expect that NextNav Inc. will post -0.74 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on NN. Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Institutional Trading of NextNav

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $579,000 after purchasing an additional 3,543 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NextNav by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock worth $5,705,000 after purchasing an additional 120,123 shares during the period. ProShare Advisors LLC grew its position in NextNav by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 18,056 shares of the company’s stock valued at $274,000 after buying an additional 765 shares during the last quarter. Geode Capital Management LLC increased its stake in NextNav by 6.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock valued at $29,385,000 after buying an additional 115,261 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in NextNav by 10.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 20,276 shares of the company’s stock valued at $308,000 after buying an additional 1,884 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

About NextNav

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.