NextNav (NASDAQ:NN) Trading 5.3% Higher

NextNav Inc. (NASDAQ:NN) shot up 5.3% on Thursday . The stock traded as high as $8.22 and last traded at $8.20. 363,156 shares changed hands during trading, a decline of 60% from the average session volume of 916,685 shares. The stock had previously closed at $7.79.

NextNav Trading Up 1.0 %

The company has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $4.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 9.31 and a quick ratio of 9.31. The company has a market capitalization of $918.41 million, a P/E ratio of -12.36 and a beta of 1.40.

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

Insider Buying and Selling at NextNav

In related news, Director Neil S. Subin bought 50,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average cost of $4.72 per share, for a total transaction of $236,000.00. Following the completion of the acquisition, the director now directly owns 2,115,213 shares in the company, valued at $9,983,805.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Sammaad Shams sold 13,469 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $56,973.87. Following the sale, the chief accounting officer now directly owns 74,122 shares of the company’s stock, valued at $313,536.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Neil S. Subin purchased 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average cost of $4.72 per share, for a total transaction of $236,000.00. Following the completion of the transaction, the director now owns 2,115,213 shares of the company’s stock, valued at approximately $9,983,805.36. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 733,000 shares of company stock worth $3,227,160 and have sold 76,002 shares worth $321,398. Corporate insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in NextNav by 173.3% during the first quarter. BlackRock Inc. now owns 3,329 shares of the company’s stock worth $25,000 after buying an additional 2,111 shares in the last quarter. Verition Fund Management LLC acquired a new stake in NextNav during the second quarter worth about $25,000. Citigroup Inc. acquired a new stake in NextNav during the first quarter worth about $26,000. Legal & General Group Plc acquired a new stake in NextNav during the second quarter worth about $27,000. Finally, UBS Group AG grew its position in NextNav by 189.9% during the first quarter. UBS Group AG now owns 4,691 shares of the company’s stock worth $35,000 after buying an additional 3,073 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.