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

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 62,868 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares in the company, valued at $17,410,520.34. This trade represents 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 Performance

NASDAQ NN traded down $0.07 on Wednesday, hitting $11.80. 1,473,196 shares of the stock were exchanged, compared to its average volume of 997,919. NextNav Inc. has a 52 week low of $4.50 and a 52 week high of $18.54. 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 company has a market capitalization of $1.55 billion, a PE ratio of -15.73 and a beta of 1.17. The business’s fifty day moving average is $11.82 and its 200 day moving average is $12.01.

NextNav (NASDAQ:NN) last released 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). 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%. Research analysts anticipate that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of NextNav during the third quarter worth $125,000. King Luther Capital Management Corp bought a new stake in shares of NextNav in the 3rd quarter worth $90,000. Intech Investment Management LLC bought a new stake in shares of NextNav during the 3rd quarter worth $150,000. Charles Schwab Investment Management Inc. increased its position in NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after buying an additional 57,780 shares during the last quarter. Finally, Wittenberg Investment Management Inc. bought a new stake in NextNav in the 3rd quarter valued at about $366,000. Institutional investors and hedge funds 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.