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

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the transaction, the chief executive officer now owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NextNav Stock Up 0.8 %

NASDAQ:NN traded up $0.14 during trading hours on Thursday, reaching $17.04. 733,640 shares of the company traded hands, compared to its average volume of 877,621. NextNav Inc. has a 1 year low of $3.55 and a 1 year high of $18.10. The business’s 50-day moving average price is $11.85 and its two-hundred day moving average price is $9.16. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

Analyst Ratings Changes

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

Hedge Funds Weigh In On NextNav

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in NextNav by 1.0% in the second quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock valued at $1,265,000 after acquiring an additional 1,500 shares during the period. Van ECK Associates Corp raised its stake in NextNav by 10.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock worth $160,000 after acquiring an additional 1,948 shares during the period. CIBC Asset Management Inc boosted its holdings in NextNav by 19.0% in the 2nd quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock worth $159,000 after buying an additional 3,140 shares during the period. Price T Rowe Associates Inc. MD raised its stake in NextNav by 34.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after purchasing an additional 4,405 shares during the period. Finally, nVerses Capital LLC purchased a new stake in NextNav during the 2nd quarter valued at approximately $50,000. 79.16% of the stock is owned by institutional investors.

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.