NextNav (NASDAQ:NN) Shares Gap Down to $8.08

NextNav Inc. (NASDAQ:NN)’s share price gapped down prior to trading on Friday . The stock had previously closed at $8.08, but opened at $7.91. NextNav shares last traded at $8.10, with a volume of 61,504 shares trading hands.

NextNav Trading Down 2.1 %

The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $890.27 million, a P/E ratio of -12.24 and a beta of 1.40. The firm has a 50 day moving average of $5.42 and a 200-day moving average of $4.76.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.19 million. NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. On average, equities research analysts predict that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at NextNav

In related news, SVP Arun Raghupathy sold 23,547 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $99,603.81. Following the completion of the sale, the senior vice president now directly owns 1,130,538 shares in the company, valued at $4,782,175.74. The sale was disclosed in a filing with the SEC, which is available at this link. In other NextNav news, SVP Arun Raghupathy sold 23,547 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $4.23, for a total transaction of $99,603.81. Following the completion of the sale, the senior vice president now directly owns 1,130,538 shares in the company, valued at $4,782,175.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christian D. Gates sold 29,208 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $123,549.84. Following the sale, the chief financial officer now owns 849,816 shares of the company’s stock, valued at $3,594,721.68. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 733,000 shares of company stock worth $3,227,160 and sold 76,002 shares worth $321,398. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NN. BlackRock Inc. grew its stake in shares of NextNav by 31.0% in the 3rd quarter. BlackRock Inc. now owns 2,979,958 shares of the company’s stock valued at $8,016,000 after buying an additional 704,945 shares during the period. Vanguard Group Inc. increased its stake in shares of NextNav by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,351,121 shares of the company’s stock worth $10,462,000 after purchasing an additional 35,058 shares during the last quarter. General American Investors Co. Inc. grew its stake in NextNav by 33.2% in the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock valued at $7,418,000 after buying an additional 415,554 shares in the last quarter. State Street Corp grew its stake in NextNav by 2.7% in the 1st quarter. State Street Corp now owns 1,055,876 shares of the company’s stock valued at $2,143,000 after buying an additional 27,996 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in NextNav by 10.8% in the 1st quarter. Geode Capital Management LLC now owns 881,603 shares of the company’s stock valued at $1,790,000 after buying an additional 86,057 shares in the last quarter. 79.16% of the stock is currently 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.