NextNav (NASDAQ:NN) Trading Down 3%

NextNav Inc. (NASDAQ:NN) shares traded down 3% on Monday . The company traded as low as $9.07 and last traded at $9.14. 265,260 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 916,436 shares. The stock had previously closed at $9.42.

NextNav Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.31 and a current ratio of 9.31. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -14.27 and a beta of 1.39. The stock’s fifty day moving average is $6.03 and its two-hundred day moving average is $4.93.

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). NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $1.19 million. Sell-side analysts predict that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Transactions at NextNav

In related news, SVP Arun Raghupathy sold 23,547 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $99,603.81. Following the completion of the transaction, the senior vice president now directly owns 1,130,538 shares of the company’s stock, valued at approximately $4,782,175.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Christian D. Gates sold 29,208 shares of NextNav stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $123,549.84. Following the completion of the sale, the chief financial officer now directly owns 849,816 shares of the company’s stock, valued at approximately $3,594,721.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Arun Raghupathy sold 23,547 shares of NextNav 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 sale, the senior vice president now directly owns 1,130,538 shares of the company’s stock, valued at $4,782,175.74. The disclosure for this sale can be found here. In the last quarter, insiders purchased 583,000 shares of company stock worth $2,633,160 and sold 76,002 shares worth $321,398. 11.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextNav

A number of large investors have recently added to or reduced their stakes in NN. Arizona State Retirement System purchased a new position in NextNav in the 4th quarter worth $47,000. Spire Wealth Management raised its position in NextNav by 120.0% in the 4th quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after purchasing an additional 6,000 shares during the period. SG Americas Securities LLC purchased a new position in NextNav in the 4th quarter worth $67,000. Simplicity Wealth LLC purchased a new position in NextNav in the 1st quarter worth $68,000. Finally, Jump Financial LLC purchased a new position in NextNav in the 4th quarter worth $73,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.