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

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

NextNav Price Performance

Shares of NN opened at $11.97 on Friday. NextNav Inc. has a 1 year low of $5.53 and a 1 year high of $18.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -15.96 and a beta of 1.17. The business has a 50-day moving average of $11.78 and a 200-day moving average of $12.04.

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

Institutional Investors Weigh In On NextNav

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in NextNav by 11.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after purchasing an additional 57,780 shares during the period. 272 Capital LP acquired a new stake in NextNav during the third quarter worth approximately $756,000. Geode Capital Management LLC grew its stake in NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after purchasing an additional 158,455 shares during the period. Paloma Partners Management Co acquired a new stake in NextNav during the third quarter worth approximately $1,060,000. Finally, Wittenberg Investment Management Inc. acquired a new stake in NextNav during the third quarter worth approximately $366,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.