NextNav Inc. (NASDAQ:NN) CEO Sells $706,007.64 in 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 stock was sold at an average price of $11.23, for a total value of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares of the company’s stock, valued at $17,410,520.34. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NextNav Stock Down 0.6 %

NASDAQ:NN traded down $0.07 during mid-day trading on Wednesday, reaching $11.80. The stock had a trading volume of 1,473,196 shares, compared to its average volume of 997,919. 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 stock has a market cap of $1.55 billion, a P/E ratio of -15.73 and a beta of 1.17. NextNav Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $18.54. The business’s 50 day moving average is $11.82 and its 200 day moving average is $12.01.

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

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. GSA Capital Partners LLP acquired a new position in shares of NextNav during the third quarter worth approximately $125,000. King Luther Capital Management Corp bought a new stake in shares of NextNav during the third quarter worth $90,000. Intech Investment Management LLC acquired a new position in shares of NextNav during the third quarter valued at $150,000. Charles Schwab Investment Management Inc. boosted its holdings in NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock valued at $4,096,000 after acquiring an additional 57,780 shares during the last quarter. Finally, Wittenberg Investment Management Inc. acquired a new stake in NextNav in the third quarter worth about $366,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

About NextNav

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.