Christian D. Gates Sells 5,730 Shares of NextNav Inc. (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) CFO Christian D. Gates sold 5,730 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.24, for a total value of $64,405.20. Following the sale, the chief financial officer now directly owns 857,206 shares in the company, valued at approximately $9,634,995.44. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NextNav Stock Up 0.3 %

Shares of NASDAQ:NN opened at $11.84 on Friday. The stock’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $12.01. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a 12-month low of $4.98 and a 12-month high of $18.54. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -15.79 and a beta of 1.17.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.73 million. On average, research analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

Institutional Trading of NextNav

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of NextNav by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after purchasing an additional 616 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after purchasing an additional 1,018 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of NextNav by 5.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company’s stock worth $479,000 after purchasing an additional 1,563 shares during the period. US Bancorp DE purchased a new position in shares of NextNav in the 4th quarter worth about $28,000. Finally, Alliancebernstein L.P. raised its holdings in shares of NextNav by 2.3% in the 4th quarter. Alliancebernstein L.P. now owns 87,760 shares of the company’s stock worth $1,366,000 after purchasing an additional 2,010 shares during the period. 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.