Investors Purchase Large Volume of Call Options on NextNav (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the recipient of unusually large options trading on Thursday. Investors purchased 60,130 call options on the company. This is an increase of approximately 682% compared to the typical volume of 7,686 call options.

Insider Buying and Selling

In other news, General Counsel James S. Black sold 9,429 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $17.97, for a total value of $169,439.13. Following the completion of the sale, the general counsel directly owned 93,566 shares of the company’s stock, valued at approximately $1,681,381.02. This represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mariam Sorond sold 11,322 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $16.85, for a total value of $190,775.70. Following the completion of the sale, the chief executive officer directly owned 1,259,624 shares of the company’s stock, valued at $21,224,664.40. This represents a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 101,133 shares of company stock worth $1,733,594 over the last ninety days. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

A number of institutional investors have recently bought and sold shares of NN. Van ECK Associates Corp lifted its holdings in shares of NextNav by 79.5% during the fourth quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company’s stock valued at $22,955,000 after acquiring an additional 611,179 shares during the period. Susquehanna Advisors Group Inc. lifted its holdings in shares of NextNav by 12.1% during the third quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock valued at $77,325,000 after acquiring an additional 584,804 shares during the period. Vanguard Group Inc. lifted its holdings in shares of NextNav by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock valued at $115,361,000 after acquiring an additional 573,214 shares during the period. Philosophy Capital Management LLC bought a new position in shares of NextNav during the third quarter valued at $7,791,000. Finally, UBS Group AG lifted its holdings in shares of NextNav by 35.0% during the fourth quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock valued at $33,144,000 after acquiring an additional 516,045 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NN. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Wall Street Zen cut NextNav from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce”.

NextNav Price Performance

NN opened at $15.11 on Friday. NextNav has a fifty-two week low of $10.84 and a fifty-two week high of $19.91. The firm’s fifty day moving average price is $16.46 and its two-hundred day moving average price is $15.26. The company has a market capitalization of $2.05 billion, a P/E ratio of -9.81 and a beta of 0.98.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). The business had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.86 million. On average, equities research analysts expect that NextNav will post -0.74 EPS for the current fiscal year.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.