NextNav (NASDAQ:NN) Shares Gap Down on Insider Selling

Shares of NextNav Inc. (NASDAQ:NN) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $11.87, but opened at $11.63. NextNav shares last traded at $11.65, with a volume of 116,295 shares.

Specifically, CAO Sammaad Shams sold 4,005 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the sale, the chief accounting officer now directly owns 81,100 shares of the company’s stock, valued at approximately $909,131. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mariam Sorond sold 62,868 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.23, for a total value of $706,007.64. Following the completion of the transaction, the chief executive officer now owns 1,550,358 shares of the company’s stock, valued at $17,410,520.34. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Christian D. Gates sold 5,730 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the transaction, the chief financial officer now owns 857,206 shares in the company, valued at $9,634,995.44. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NextNav Stock Up 0.3 %

The company has a 50 day moving average price of $11.78 and a two-hundred day moving average price of $12.01. 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 $1.56 billion, a PE ratio of -15.79 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 the consensus estimate of ($0.15) by ($0.10). The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. Analysts expect that NextNav Inc. will post -0.74 EPS for the current year.

Institutional Trading of NextNav

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 616 shares during the period. Russell Investments Group Ltd. grew its holdings in NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after purchasing an additional 1,018 shares during the period. The Manufacturers Life Insurance Company grew its holdings in NextNav by 5.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company’s stock valued at $479,000 after purchasing an additional 1,563 shares during the period. US Bancorp DE bought a new stake in NextNav during the fourth quarter valued at about $28,000. Finally, Alliancebernstein L.P. grew its holdings in NextNav by 2.3% during the fourth quarter. Alliancebernstein L.P. now owns 87,760 shares of the company’s stock valued at $1,366,000 after purchasing an additional 2,010 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.