Mariam Sorond Sells 62,868 Shares of NextNav Inc. (NASDAQ:NN) 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 transaction, the chief executive officer now directly owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. This represents a 3.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NextNav Stock Up 0.3 %

NextNav stock opened at $11.84 on Friday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -15.79 and a beta of 1.17. 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 50 day moving average of $11.78 and a two-hundred day moving average of $12.01. NextNav Inc. has a twelve month low of $4.98 and a twelve month high of $18.54.

NextNav (NASDAQ:NN) last posted its quarterly earnings data 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). The firm had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. As a group, research analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Institutional Trading of NextNav

Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE acquired a new stake in shares of NextNav in the 4th quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its position in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after acquiring an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in NextNav in the fourth quarter valued at $78,000. King Luther Capital Management Corp purchased a new stake in shares of NextNav during the 3rd quarter worth $90,000. Finally, FMR LLC boosted its position in shares of NextNav by 354.3% during the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after purchasing an additional 12,804 shares in the last quarter. 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.