NextNav (NASDAQ:NN) Hits New 1-Year High at $8.60

Shares of NextNav Inc. (NASDAQ:NN) reached a new 52-week high on Tuesday . The company traded as high as $8.60 and last traded at $8.54, with a volume of 173517 shares traded. The stock had previously closed at $8.40.

NextNav Price Performance

The stock’s 50 day moving average is $5.84 and its two-hundred day moving average is $4.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 9.31 and a quick ratio of 9.31. The stock has a market capitalization of $979.75 million, a PE ratio of -13.19 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). The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million. NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. As a group, sell-side analysts forecast that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at NextNav

In other news, General Counsel Robert Lantz sold 8,776 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $37,122.48. Following the completion of the sale, the general counsel now directly owns 90,433 shares of the company’s stock, valued at $382,531.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Neil S. Subin acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average cost of $4.72 per share, with a total value of $236,000.00. Following the completion of the acquisition, the director now owns 2,115,213 shares of the company’s stock, valued at $9,983,805.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Robert Lantz sold 8,776 shares of the 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 $37,122.48. Following the completion of the sale, the general counsel now directly owns 90,433 shares of the company’s stock, valued at $382,531.59. The disclosure for this sale can be found here. Over the last three months, insiders acquired 583,000 shares of company stock valued at $2,633,160 and sold 76,002 shares valued at $321,398. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NextNav

Several hedge funds have recently modified their holdings of NN. Arizona State Retirement System acquired a new stake in shares of NextNav during the fourth quarter worth $47,000. Spire Wealth Management lifted its holdings in shares of NextNav by 120.0% during 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 during the period. SG Americas Securities LLC acquired a new stake in shares of NextNav during the fourth quarter worth $67,000. Simplicity Wealth LLC acquired a new stake in shares of NextNav during the first quarter worth $68,000. Finally, Jump Financial LLC purchased a new position in NextNav in the fourth quarter worth $73,000. 79.16% of the stock is 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.