NextNav (NASDAQ:NN) Shares Down 5.7% – Here’s What Happened

NextNav Inc. (NASDAQ:NN) shares traded down 5.7% on Wednesday . The company traded as low as $13.00 and last traded at $12.68. 124,891 shares were traded during trading, a decline of 87% from the average session volume of 994,881 shares. The stock had previously closed at $13.44.

NextNav Price Performance

The company has a market cap of $1.67 billion, a PE ratio of -16.99 and a beta of 1.17. The firm’s 50-day moving average is $11.79 and its 200-day moving average is $12.19. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

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

Insider Buying and Selling at NextNav

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the sale, the chief executive officer now directly owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. The trade was a 3.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sammaad Shams sold 4,005 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the transaction, the chief accounting officer now owns 81,100 shares in the company, valued at approximately $909,131. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,705 shares of company stock valued at $816,495. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of NextNav

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of NextNav by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock valued at $4,096,000 after purchasing an additional 57,780 shares during the period. 272 Capital LP purchased a new position in shares of NextNav in the third quarter worth approximately $756,000. Geode Capital Management LLC grew its position in NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after buying an additional 158,455 shares during the period. Paloma Partners Management Co purchased a new stake in NextNav during the third quarter valued at approximately $1,060,000. Finally, Oppenheimer & Co. Inc. raised its position in NextNav by 170.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 27,000 shares of the company’s stock worth $420,000 after acquiring an additional 17,000 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.