NextNav Inc. (NASDAQ:NN) CEO Sells $706,007.64 in Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 62,868 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.23, for a total value of $706,007.64. Following the completion of the sale, the chief executive officer now owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NextNav Stock Up 1.1 %

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 stock’s fifty day simple moving average is $11.78 and its 200 day simple moving average is $12.04. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.57 billion, a PE ratio of -15.96 and a beta of 1.17.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.73 million. As a group, research analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of NextNav by 14.9% during the 4th quarter. California State Teachers Retirement System now owns 49,229 shares of the company’s stock worth $766,000 after purchasing an additional 6,385 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NextNav by 57.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,302 shares of the company’s stock worth $1,670,000 after buying an additional 39,222 shares during the last quarter. Voloridge Investment Management LLC raised its position in NextNav by 466.5% in the fourth quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock valued at $10,238,000 after purchasing an additional 541,842 shares during the last quarter. Waverly Advisors LLC bought a new position in NextNav in the fourth quarter valued at about $535,000. Finally, Squarepoint Ops LLC bought a new position in NextNav in the fourth quarter valued at about $2,316,000. 79.16% of the stock is 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.