Greenhaven Road Investment Management L.P. Invests $730,000 in NextNav Inc. (NASDAQ:NN)

Greenhaven Road Investment Management L.P. bought a new position in shares of NextNav Inc. (NASDAQ:NN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,000 shares of the company’s stock, valued at approximately $730,000. NextNav makes up 0.3% of Greenhaven Road Investment Management L.P.’s investment portfolio, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NN. Fleming James B JR bought a new stake in shares of NextNav in the fourth quarter worth about $80,618,000. Susquehanna Advisors Group Inc. bought a new position in NextNav during the fourth quarter valued at $67,648,000. Vanguard Group Inc. grew its stake in shares of NextNav by 23.3% in the 4th quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company’s stock worth $62,505,000 after buying an additional 759,775 shares in the last quarter. Invesco Ltd. increased its holdings in shares of NextNav by 2,461.2% in the 4th quarter. Invesco Ltd. now owns 712,385 shares of the company’s stock worth $11,085,000 after buying an additional 684,571 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of NextNav by 466.5% during the 4th quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock valued at $10,238,000 after buying an additional 541,842 shares in the last quarter. Institutional investors own 79.16% of the company’s stock.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $14.38, for a total value of $1,004,486.14. Following the completion of the transaction, the chief executive officer directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.70% of the stock is currently owned by corporate insiders.

NextNav Stock Down 1.2%

Shares of NN opened at $14.41 on Friday. NextNav Inc. has a 52-week low of $6.47 and a 52-week high of $18.54. The company has a quick ratio of 16.75, a current ratio of 16.75 and a debt-to-equity ratio of 32.42. The business has a fifty day moving average of $13.96 and a 200 day moving average of $12.78. The company has a market cap of $1.91 billion, a PE ratio of -14.13 and a beta of 1.05.

NextNav (NASDAQ:NN) last issued its earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.54 million for the quarter, compared to analysts’ expectations of $1.87 million. NextNav had a negative return on equity of 193.20% and a negative net margin of 2,091.01%. On average, sell-side analysts expect that NextNav Inc. will post -0.74 EPS for the current year.

NextNav 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.