Voleon Capital Management LP Purchases Shares of 20,875 NextNav Inc. (NASDAQ:NN)

Voleon Capital Management LP acquired a new stake in shares of NextNav Inc. (NASDAQ:NN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,875 shares of the company’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE purchased a new position in NextNav in the 4th quarter worth about $28,000. Russell Investments Group Ltd. increased its position in shares of NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after acquiring an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of NextNav during the fourth quarter valued at approximately $78,000. Mission Wealth Management LP purchased a new stake in shares of NextNav in the 4th quarter valued at approximately $156,000. Finally, Wharton Business Group LLC acquired a new position in NextNav in the 4th quarter worth approximately $156,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Price Performance

Shares of NASDAQ:NN opened at $12.76 on Friday. The company has a market cap of $1.69 billion, a P/E ratio of -17.01 and a beta of 1.03. The company’s fifty day moving average is $11.65 and its two-hundred day moving average is $13.00. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a 12-month low of $6.47 and a 12-month high of $18.54.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million. Equities analysts expect that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the sale, the chief accounting officer now directly owns 81,100 shares in the company, valued at $909,131. The trade was a 4.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the transaction, the chief financial officer now owns 857,206 shares in the company, valued at $9,634,995.44. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,705 shares of company stock worth $816,495. 7.70% of the stock is owned by company insiders.

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.