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

NextNav Inc. (NASDAQ:NN - Get Free Report) CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction on 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 $17,410,520.34. The trade was a 3.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NextNav Price Performance

NASDAQ NN traded up $0.13 during trading hours on Friday, hitting $11.97. The company had a trading volume of 1,672,673 shares, compared to its average volume of 995,544. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -15.96 and a beta of 1.17. NextNav Inc. has a 52 week low of $6.19 and a 52 week high of $18.54. The firm has a 50 day simple moving average of $11.78 and a 200 day simple moving average of $12.07.

NextNav (NASDAQ:NN - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. Equities research analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

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Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NN. JPMorgan Chase & Co. boosted its stake in NextNav by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company's stock valued at $244,000 after buying an additional 616 shares during the period. Russell Investments Group Ltd. boosted its position in shares of NextNav by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after acquiring an additional 1,018 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NextNav by 5.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company's stock valued at $479,000 after acquiring an additional 1,563 shares during the last quarter. US Bancorp DE purchased a new position in shares of NextNav during the fourth quarter worth about $28,000. Finally, Alliancebernstein L.P. increased its position in shares of NextNav by 2.3% in the fourth quarter. Alliancebernstein L.P. now owns 87,760 shares of the company's stock worth $1,366,000 after purchasing an additional 2,010 shares during the last quarter. 79.16% of the stock is currently owned by hedge funds and other 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.