NextNav (NASDAQ:NN) Stock Price Up 4.3% – What’s Next?

NextNav Inc. (NASDAQ:NN)’s share price was up 4.3% during mid-day trading on Monday . The company traded as high as $9.13 and last traded at $9.13. Approximately 299,370 shares traded hands during trading, a decline of 63% from the average daily volume of 817,858 shares. The stock had previously closed at $8.75.

NextNav Trading Up 7.8 %

The firm’s 50-day simple moving average is $7.48 and its 200 day simple moving average is $7.82. The stock has a market cap of $1.19 billion, a P/E ratio of -11.04 and a beta of 1.06. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.63 million. NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, equities research analysts anticipate that NextNav Inc. will post -0.8 earnings per share for the current year.

Insider Activity at NextNav

In related news, Director Neil S. Subin purchased 100,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the transaction, the director now owns 2,365,213 shares of the company’s stock, valued at $16,367,273.96. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Neil S. Subin bought 125,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the acquisition, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil S. Subin purchased 100,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the acquisition, the director now directly owns 2,365,213 shares in the company, valued at $16,367,273.96. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.70% of the company’s stock.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently added to or reduced their stakes in NN. Vanguard Group Inc. lifted its holdings in shares of NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after purchasing an additional 887,075 shares during the last quarter. Wolf Hill Capital Management LP lifted its stake in NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after buying an additional 269,754 shares in the last quarter. Empyrean Capital Partners LP boosted its holdings in shares of NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after buying an additional 238,845 shares during the period. Ingalls & Snyder LLC increased its position in shares of NextNav by 20.7% in the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock worth $2,408,000 after acquiring an additional 51,000 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of NextNav by 4.7% during the first quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock valued at $1,749,000 after acquiring an additional 12,000 shares during the period. 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.