NextNav (NASDAQ:NN) CAO Sammaad Shams Sells 1,576 Shares

NextNav Inc. (NASDAQ:NN) CAO Sammaad Shams sold 1,576 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $14.64, for a total value of $23,072.64. Following the sale, the chief accounting officer owned 68,938 shares in the company, valued at approximately $1,009,252.32. This represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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%

Shares of NASDAQ:NN traded up $1.44 during midday trading on Monday, reaching $15.66. 2,780,921 shares of the company traded hands, compared to its average volume of 2,342,804. The firm’s fifty day moving average price is $15.29 and its two-hundred day moving average price is $17.45. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -16.14 and a beta of 1.12. NextNav Inc. has a 12 month low of $10.87 and a 12 month high of $24.42.

NextNav (NASDAQ:NN) last issued its earnings results on Tuesday, August 11th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.92 million. NextNav had a negative return on equity of 211.25% and a negative net margin of 3,232.19%. Analysts forecast that NextNav Inc. will post -0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Odeon Capital Group started coverage on shares of NextNav in a research note on Monday, July 20th. They issued a “buy” rating and a $22.00 target price on the stock. Wells Fargo & Company restated a “buy” rating on shares of NextNav in a research report on Monday. Zacks Research lowered NextNav from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Friday, July 17th. Finally, Oppenheimer lifted their price target on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sona Asset Management US LLC lifted its stake in NextNav by 37.9% during the first quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock worth $8,354,000 after purchasing an additional 143,349 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in NextNav by 12.0% in 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 raised its stake in shares of NextNav by 3.8% during the first quarter. First Trust Advisors LP now owns 296,391 shares of the company’s stock worth $4,748,000 after acquiring an additional 10,761 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of NextNav by 1.2% in the 1st quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock worth $4,165,000 after acquiring an additional 3,028 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of NextNav in the 2nd quarter valued at $4,012,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Company Profile

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.