NextNav (NASDAQ:NN) Shares Gap Down After Earnings Miss

NextNav Inc. (NASDAQ:NN)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $13.93, but opened at $13.34. NextNav shares last traded at $13.65, with a volume of 7,311 shares traded.

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 128.95% and a negative net margin of 1,732.92%.

Insider Buying and Selling at NextNav

In other news, CEO Mariam Sorond sold 62,868 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.23, for a total value of $706,007.64. Following the transaction, the chief executive officer now directly owns 1,550,358 shares of the company’s stock, valued at $17,410,520.34. This represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christian D. Gates sold 5,730 shares of the firm’s 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 sale, the chief financial officer now owns 857,206 shares of the company’s stock, valued at approximately $9,634,995.44. This 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 quarter. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NextNav

Institutional investors have recently made changes to their positions in the company. Barclays PLC increased its position in NextNav by 29.2% during the 3rd quarter. Barclays PLC now owns 291,964 shares of the company’s stock worth $2,187,000 after buying an additional 66,039 shares during the period. JPMorgan Chase & Co. increased its position in NextNav by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after acquiring an additional 616 shares during the period. Whitaker Myers Wealth Managers LTD. acquired a new stake in NextNav in the 4th quarter worth about $157,000. SG Americas Securities LLC grew its position in shares of NextNav by 30.2% during the 4th quarter. SG Americas Securities LLC now owns 35,612 shares of the company’s stock worth $554,000 after purchasing an additional 8,264 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of NextNav during the fourth quarter worth approximately $78,000. Institutional investors own 79.16% of the company’s stock.

NextNav Trading Down 5.8 %

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 company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -17.49 and a beta of 1.03. The business’s 50-day moving average price is $12.03 and its two-hundred day moving average price is $13.19.

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.