NextNav (NASDAQ:NN) Shares Gap Down to $6.91

NextNav Inc. (NASDAQ:NN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $6.91, but opened at $6.51. NextNav shares last traded at $6.94, with a volume of 58,143 shares trading hands.

NextNav Stock Performance

The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $4.42 and a 200-day moving average of $4.56.

Insider Activity at NextNav

In other NextNav news, major shareholder Joseph D. Samberg purchased 483,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $4.52 per share, with a total value of $2,183,160.00. Following the purchase, the insider now owns 9,800,000 shares in the company, valued at $44,296,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NextNav news, major shareholder Joseph D. Samberg acquired 483,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $4.52 per share, for a total transaction of $2,183,160.00. Following the acquisition, the insider now directly owns 9,800,000 shares of the company’s stock, valued at $44,296,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil S. Subin purchased 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was purchased at an average price of $4.72 per share, with a total value of $236,000.00. Following the completion of the acquisition, the director now directly owns 2,115,213 shares in the company, valued at approximately $9,983,805.36. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 883,000 shares of company stock valued at $3,806,160 and have sold 96,002 shares valued at $421,598. Corporate insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in NextNav by 173.3% during the 1st quarter. BlackRock Inc. now owns 3,329 shares of the company’s stock valued at $25,000 after purchasing an additional 2,111 shares during the period. Verition Fund Management LLC bought a new position in NextNav in the 2nd quarter valued at $25,000. Citigroup Inc. bought a new position in shares of NextNav in the 1st quarter worth $26,000. Legal & General Group Plc bought a new position in shares of NextNav in the 2nd quarter worth $27,000. Finally, UBS Group AG raised its stake in NextNav by 189.9% during the 1st quarter. UBS Group AG now owns 4,691 shares of the company’s stock worth $35,000 after buying an additional 3,073 shares during the period. 79.16% of the stock is owned by institutional investors and hedge funds.

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.