NextNav (NASDAQ:NN) Trading 7.9% Higher – Still a Buy?

NextNav Inc. (NASDAQ:NN) shares were up 7.9% during mid-day trading on Monday . The stock traded as high as $13.04 and last traded at $12.91. Approximately 759,864 shares traded hands during trading, a decline of 24% from the average daily volume of 994,756 shares. The stock had previously closed at $11.97.

NextNav Trading Up 6.6 %

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The business’s fifty day simple moving average is $11.78 and its 200 day simple moving average is $12.11. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -17.02 and a beta of 1.17.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.73 million. On average, research analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at NextNav

In other news, CAO Sammaad Shams sold 4,005 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the transaction, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at approximately $909,131. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.24, for a total transaction of $64,405.20. Following the completion of the sale, the chief financial officer now directly owns 857,206 shares in the company, valued at approximately $9,634,995.44. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock worth $816,495 over the last ninety days. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE acquired a new stake in NextNav in the 4th quarter valued at approximately $28,000. Russell Investments Group Ltd. increased its holdings in shares of NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after purchasing an additional 1,018 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of NextNav during the fourth quarter valued at about $78,000. Wharton Business Group LLC acquired a new stake in NextNav in the fourth quarter worth about $156,000. Finally, Mission Wealth Management LP bought a new position in NextNav in the 4th quarter valued at about $156,000. 79.16% of the stock is currently 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.