NextNav (NASDAQ:NN) Trading 8.6% Higher

NextNav Inc. (NASDAQ:NN)’s share price rose 8.6% during mid-day trading on Friday . The company traded as high as $9.09 and last traded at $8.98. Approximately 470,003 shares were traded during trading, a decline of 48% from the average daily volume of 912,082 shares. The stock had previously closed at $8.27.

NextNav Price Performance

The stock’s 50-day moving average price is $5.92 and its 200 day moving average price is $4.91. 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 $1.06 billion, a price-to-earnings ratio of -13.29 and a beta of 1.40.

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

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 13,469 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the transaction, the chief accounting officer now owns 74,122 shares of the company’s stock, valued at approximately $313,536.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other NextNav news, Director Neil S. Subin acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased 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 owns 2,115,213 shares of the company’s stock, valued at approximately $9,983,805.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sammaad Shams sold 13,469 shares of the 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 $56,973.87. Following the completion of the transaction, the chief accounting officer now owns 74,122 shares of the company’s stock, valued at $313,536.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 583,000 shares of company stock worth $2,633,160 and have sold 76,002 shares worth $321,398. 15.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextNav

Large investors have recently modified their holdings of the business. Arizona State Retirement System purchased a new position in shares of NextNav during the 4th quarter worth approximately $47,000. Spire Wealth Management lifted its stake in NextNav by 120.0% during the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after purchasing an additional 6,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of NextNav during the fourth quarter worth $67,000. Simplicity Wealth LLC acquired a new stake in shares of NextNav in the first quarter valued at $68,000. Finally, Jump Financial LLC purchased a new stake in shares of NextNav in the 4th quarter valued at $73,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.