NextNav (NASDAQ:NN) Trading Down 6.2%

Shares of NextNav Inc. (NASDAQ:NN) traded down 6.2% on Monday . The stock traded as low as $8.38 and last traded at $8.46. 441,178 shares changed hands during trading, a decline of 51% from the average session volume of 907,453 shares. The stock had previously closed at $9.02.

NextNav Trading Down 5.3 %

The business’s 50-day simple moving average is $6.52 and its two-hundred day simple moving average is $5.08. The firm has a market capitalization of $949.56 million, a price-to-earnings ratio of -12.94 and a beta of 1.16. The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $1.19 million. NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. Equities analysts forecast that NextNav Inc. will post -0.58 earnings per share for the current year.

Insider Activity at NextNav

In related news, major shareholder Joseph D. Samberg acquired 483,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of $4.52 per share, with a total value of $2,183,160.00. Following the completion of the transaction, the insider now owns 9,800,000 shares of the company’s stock, valued at $44,296,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NextNav news, SVP Arun Raghupathy sold 23,547 shares of the business’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 transaction of $99,603.81. Following the completion of the transaction, the senior vice president now owns 1,130,538 shares in the company, valued at approximately $4,782,175.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Joseph D. Samberg acquired 483,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of $4.52 per share, for a total transaction of $2,183,160.00. Following the completion of the transaction, the insider now owns 9,800,000 shares in the company, valued at approximately $44,296,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 583,000 shares of company stock worth $2,633,160 and have sold 75,000 shares worth $317,250. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently modified their holdings of NN. Perigon Wealth Management LLC raised its holdings in NextNav by 9.4% during the first quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company’s stock worth $230,000 after purchasing an additional 3,000 shares in the last quarter. Spire Wealth Management increased its holdings in shares of NextNav by 120.0% in the 4th quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock valued at $49,000 after acquiring an additional 6,000 shares during the period. Simplicity Wealth LLC purchased a new stake in NextNav in the 1st quarter valued at $68,000. Arizona State Retirement System acquired a new stake in NextNav during the 4th quarter worth $47,000. Finally, Kolinsky Wealth Management LLC grew its position in NextNav by 64.3% during the 4th quarter. Kolinsky Wealth Management LLC now owns 30,363 shares of the company’s stock worth $135,000 after purchasing an additional 11,883 shares during the last quarter. Institutional investors and hedge funds 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.