NextNav (NASDAQ:NN) Hits New 1-Year High at $8.05

NextNav Inc. (NASDAQ:NN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.05 and last traded at $7.98, with a volume of 383128 shares. The stock had previously closed at $7.06.

NextNav Price Performance

The stock has a market cap of $876.76 million, a PE ratio of -11.80 and a beta of 1.40. 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 company’s 50 day moving average is $5.42 and its 200-day moving average is $4.76.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $1.21 million for the quarter, compared to analyst estimates of $1.19 million. NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. As a group, sell-side analysts predict 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 firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the completion of the transaction, the chief accounting officer now directly owns 74,122 shares of the company’s stock, valued at approximately $313,536.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Christian D. Gates sold 29,208 shares of NextNav stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $123,549.84. Following the completion of the transaction, the chief financial officer now directly owns 849,816 shares of the company’s stock, valued at approximately $3,594,721.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sammaad Shams sold 13,469 shares of NextNav stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the completion of the transaction, the chief accounting officer now directly owns 74,122 shares of the company’s stock, valued at $313,536.06. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 883,000 shares of company stock valued at $3,806,160 and sold 76,002 shares valued at $321,398. 11.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. General American Investors Co. Inc. boosted its holdings in shares of NextNav by 55.9% in the 3rd quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company’s stock valued at $6,432,000 after buying an additional 448,884 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of NextNav in the 3rd quarter valued at about $156,000. Kolinsky Wealth Management LLC acquired a new position in shares of NextNav in the 3rd quarter valued at about $95,000. Bank of New York Mellon Corp boosted its holdings in shares of NextNav by 8.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 162,405 shares of the company’s stock valued at $835,000 after buying an additional 13,280 shares during the period. Finally, Ancora Advisors LLC acquired a new position in shares of NextNav in the 3rd quarter valued at about $495,000. 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.