NextNav (NASDAQ:NN) Trading Down 2.8%

Shares of NextNav Inc. (NASDAQ:NN) were down 2.8% during trading on Wednesday . The company traded as low as $7.26 and last traded at $7.26. Approximately 26,146 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 870,743 shares. The stock had previously closed at $7.47.

NextNav Price Performance

The stock has a market capitalization of $896.21 million, a PE ratio of -9.80 and a beta of 1.08. The firm’s fifty day moving average price is $7.96 and its two-hundred day moving average price is $6.91. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.63 million. NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. During the same period last year, the firm posted ($0.15) EPS. On average, equities analysts predict that NextNav Inc. will post -0.81 earnings per share for the current year.

Insider Activity at NextNav

In other NextNav news, major shareholder Joseph D. Samberg acquired 181,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of $7.30 per share, with a total value of $1,321,300.00. Following the purchase, the insider now directly owns 9,881,450 shares of the company’s stock, valued at approximately $72,134,585. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Joseph D. Samberg acquired 181,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $7.30 per share, with a total value of $1,321,300.00. Following the purchase, the insider now directly owns 9,881,450 shares of the company’s stock, valued at $72,134,585. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Joseph D. Samberg purchased 81,200 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of $7.83 per share, with a total value of $635,796.00. Following the completion of the purchase, the insider now owns 10,000,200 shares in the company, valued at approximately $78,301,566. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 8,158 shares of company stock worth $59,309. 15.70% of the stock is owned by insiders.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently made changes to their positions in NN. Raymond James & Associates increased its stake in NextNav by 1.0% in the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock worth $1,265,000 after buying an additional 1,500 shares during the period. Perigon Wealth Management LLC increased its position in shares of NextNav by 9.4% during the first quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company’s stock worth $230,000 after acquiring an additional 3,000 shares during the period. CIBC Asset Management Inc raised its stake in shares of NextNav by 19.0% during the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock valued at $159,000 after acquiring an additional 3,140 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of NextNav by 34.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after purchasing an additional 4,405 shares during the period. Finally, Spire Wealth Management grew its stake in NextNav by 120.0% in the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after purchasing an additional 6,000 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

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.