NextNav (NASDAQ:NN) Trading Up 8.6%

NextNav Inc. (NASDAQ:NN)’s share price was up 8.6% on Friday . The stock traded as high as $9.09 and last traded at $8.98. Approximately 470,003 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 912,082 shares. The stock had previously closed at $8.27.

NextNav Stock Up 14.0 %

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 firm’s 50 day simple moving average is $6.03 and its two-hundred day simple moving average is $4.93. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -14.27 and a beta of 1.40.

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

Insiders Place Their Bets

In other NextNav news, General Counsel Robert Lantz sold 8,776 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $37,122.48. Following the transaction, the general counsel now directly owns 90,433 shares of the company’s stock, valued at approximately $382,531.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Sammaad Shams sold 13,469 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 directly owns 74,122 shares in the company, valued at approximately $313,536.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Robert Lantz sold 8,776 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $37,122.48. Following the completion of the transaction, the general counsel now owns 90,433 shares of the company’s stock, valued at $382,531.59. The disclosure for this sale can be found here. In the last quarter, insiders acquired 583,000 shares of company stock worth $2,633,160 and sold 76,002 shares worth $321,398. Corporate 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 company. Simplicity Wealth LLC acquired a new position in shares of NextNav in the 1st quarter valued at approximately $68,000. Kolinsky Wealth Management LLC increased its position in NextNav by 64.3% during the 4th quarter. Kolinsky Wealth Management LLC now owns 30,363 shares of the company’s stock worth $135,000 after purchasing an additional 11,883 shares in the last quarter. Tower Research Capital LLC TRC increased its position in NextNav by 273.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 24,999 shares of the company’s stock worth $111,000 after purchasing an additional 18,309 shares in the last quarter. General American Investors Co. Inc. increased its position in NextNav by 33.2% during the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after purchasing an additional 415,554 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in NextNav during the 4th quarter worth approximately $73,000. 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.