NextNav (NASDAQ:NN) Trading 5.3% Higher

NextNav Inc. (NASDAQ:NN)’s stock price shot up 5.3% during trading on Thursday . The company traded as high as $8.22 and last traded at $8.20. 363,156 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 916,685 shares. The stock had previously closed at $7.79.

NextNav Stock Performance

The firm has a market cap of $918.41 million, a PE ratio of -12.36 and a beta of 1.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 9.31 and a quick ratio of 9.31. The stock has a 50-day moving average price of $5.50 and a 200 day moving average price of $4.79.

NextNav (NASDAQ:NN) last issued its earnings results 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). NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million. Research analysts forecast that NextNav Inc. will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In other NextNav news, CAO Sammaad Shams sold 13,469 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was 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 in the company, valued at $313,536.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Neil S. Subin acquired 50,000 shares of NextNav stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of $4.72 per share, for a total transaction of $236,000.00. Following the completion of the purchase, the director now directly owns 2,115,213 shares in the company, valued at approximately $9,983,805.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sammaad Shams sold 13,469 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $313,536.06. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 733,000 shares of company stock worth $3,227,160 and have sold 76,002 shares worth $321,398. 15.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of NextNav by 173.3% in the first quarter. BlackRock Inc. now owns 3,329 shares of the company’s stock worth $25,000 after acquiring an additional 2,111 shares in the last quarter. Citigroup Inc. acquired a new position in shares of NextNav in the first quarter worth about $26,000. UBS Group AG increased its holdings in NextNav by 189.9% in the first quarter. UBS Group AG now owns 4,691 shares of the company’s stock valued at $35,000 after buying an additional 3,073 shares during the last quarter. Polar Capital Holdings Plc bought a new stake in NextNav in the first quarter valued at about $76,000. Finally, Arizona State Retirement System bought a new stake in NextNav in the fourth quarter valued at about $47,000. 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.