NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond Sells 200,000 Shares

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total value of $3,280,000.00. Following the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at $25,815,518.80. This represents a 11.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NextNav Stock Up 0.8 %

NASDAQ:NN opened at $17.04 on Friday. 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 twelve month low of $3.55 and a twelve month high of $18.10. The company has a market cap of $2.20 billion, a PE ratio of -22.72 and a beta of 1.13. The company’s 50 day moving average is $12.04 and its two-hundred day moving average is $9.22.

Institutional Investors Weigh In On NextNav

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in shares of NextNav during the second quarter worth about $50,000. Principal Financial Group Inc. acquired a new stake in NextNav during the 2nd quarter valued at approximately $82,000. Quest Partners LLC acquired a new stake in NextNav during the 2nd quarter valued at approximately $88,000. King Luther Capital Management Corp purchased a new stake in shares of NextNav in the 3rd quarter valued at $90,000. Finally, Wolverine Asset Management LLC increased its stake in shares of NextNav by 323.6% in the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after acquiring an additional 9,248 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their price target on NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th.

NextNav Company Profile

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.