NextNav Inc. (NASDAQ:NN – Get Rating) CFO Christian D. Gates sold 24,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $2.20, for a total value of $52,800.00. Following the completion of the sale, the chief financial officer now owns 736,801 shares of the company’s stock, valued at approximately $1,620,962.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NextNav Stock Performance
NN opened at $2.24 on Monday. The stock’s fifty day moving average is $2.08 and its two-hundred day moving average is $2.68. NextNav Inc. has a 52 week low of $1.59 and a 52 week high of $4.26.
NextNav (NASDAQ:NN – Get Rating) last issued its quarterly earnings results on Wednesday, March 22nd. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The company had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.53 million. NextNav had a negative return on equity of 63.32% and a negative net margin of 1,314.42%. On average, research analysts anticipate that NextNav Inc. will post -0.55 EPS for the current year.
Analysts Set New Price Targets
Institutional Investors Weigh In On NextNav
Several large investors have recently bought and sold shares of NN. B. Riley Asset Management LLC lifted its holdings in NextNav by 44.7% in the third quarter. B. Riley Asset Management LLC now owns 615,094 shares of the company’s stock valued at $1,655,000 after acquiring an additional 189,902 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp lifted its holdings in NextNav by 42.9% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 50,000 shares of the company’s stock valued at $135,000 after acquiring an additional 15,000 shares during the last quarter. Ergoteles LLC acquired a new position in NextNav in the third quarter valued at approximately $46,000. The Manufacturers Life Insurance Company acquired a new position in NextNav in the fourth quarter valued at approximately $81,000. Finally, B. Riley Financial Inc. lifted its holdings in NextNav by 37.5% in the fourth quarter. B. Riley Financial Inc. now owns 3,086,792 shares of the company’s stock valued at $9,044,000 after acquiring an additional 842,546 shares during the last quarter. 60.66% of the stock is currently owned by hedge funds and other institutional investors.
NextNav Inc provides next generation global positioning system (GPS) and 3D geolocation services. The company delivers next generation positioning, navigation, and timing solutions through its network-based Pinnacle and TerraPoiNT solutions. Its Pinnacle 3D geolocation service is commercially available in approximately 4,400 cities and towns in the United States; and its TerraPoiNT terrestrial-based encrypted network has deployments in 51 total markets nationally.
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