NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond Sells 62,868 Shares of Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 62,868 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now directly owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. The trade was a 3.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NextNav Stock Down 0.6 %

Shares of NextNav stock opened at $11.80 on Thursday. NextNav Inc. has a twelve month low of $4.50 and a twelve month high of $18.54. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $11.80 and its 200 day moving average is $12.01. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -15.73 and a beta of 1.17.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). The firm had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. Research analysts anticipate that NextNav Inc. will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fleming James B JR purchased a new stake in NextNav in the 4th quarter worth $80,618,000. Susquehanna Advisors Group Inc. bought a new position in shares of NextNav during the 4th quarter valued at about $67,648,000. Vanguard Group Inc. grew its position in shares of NextNav by 23.3% during the fourth quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company’s stock valued at $62,505,000 after purchasing an additional 759,775 shares in the last quarter. Invesco Ltd. increased its holdings in shares of NextNav by 2,461.2% in the fourth quarter. Invesco Ltd. now owns 712,385 shares of the company’s stock worth $11,085,000 after purchasing an additional 684,571 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of NextNav by 466.5% in the fourth quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock worth $10,238,000 after buying an additional 541,842 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Company Profile

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.