NextNav (NASDAQ:NN) Shares Gap Down to $8.08

NextNav Inc. (NASDAQ:NN)’s share price gapped down before the market opened on Friday . The stock had previously closed at $8.08, but opened at $7.91. NextNav shares last traded at $8.10, with a volume of 61,504 shares changing hands.

NextNav Price Performance

The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $5.57 and its 200 day moving average price is $4.81. The stock has a market cap of $918.41 million, a PE ratio of -12.36 and a beta of 1.40.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) 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 company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.19 million. As a group, equities analysts expect that NextNav Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Neil S. Subin bought 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was purchased at an average cost of $4.72 per share, for a total transaction of $236,000.00. Following the transaction, the director now owns 2,115,213 shares of the company’s stock, valued at $9,983,805.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Joseph D. Samberg acquired 483,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were acquired at an average cost of $4.52 per share, for a total transaction of $2,183,160.00. Following the completion of the transaction, the insider now directly owns 9,800,000 shares in the company, valued at approximately $44,296,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Neil S. Subin acquired 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was bought at an average cost of $4.72 per share, with a total value of $236,000.00. Following the completion of the purchase, the director now directly owns 2,115,213 shares in the company, valued at $9,983,805.36. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 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 owned by company insiders.

Institutional Trading of NextNav

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