NextNav (NASDAQ:NN) General Counsel James Black Sells 9,429 Shares

NextNav Inc. (NASDAQ:NN) General Counsel James Black sold 9,429 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $17.97, for a total value of $169,439.13. Following the transaction, the general counsel owned 93,566 shares in the company, valued at $1,681,381.02. The trade was a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NextNav Stock Performance

NN opened at $18.68 on Tuesday. The stock has a fifty day moving average of $16.17 and a 200-day moving average of $15.26. The company has a market capitalization of $2.53 billion, a P/E ratio of -12.13 and a beta of 0.96. NextNav Inc. has a fifty-two week low of $10.64 and a fifty-two week high of $19.91.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, meeting 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 business had revenue of $0.95 million for the quarter, compared to the consensus estimate of $0.86 million. On average, equities research analysts predict that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of NextNav

Several large investors have recently made changes to their positions in NN. Caitong International Asset Management Co. Ltd increased its stake in NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after acquiring an additional 1,721 shares during the last quarter. Clearstead Advisors LLC bought a new stake in NextNav during the third quarter worth $52,000. FWL Investment Management LLC acquired a new stake in shares of NextNav in the 2nd quarter valued at $70,000. Kemnay Advisory Services Inc. bought a new position in shares of NextNav in the 4th quarter valued at $97,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of NextNav in the 4th quarter valued at $109,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

Wall Street Analyst Weigh In

NN has been the topic of several recent research reports. Wall Street Zen cut shares of NextNav from a “hold” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.