NextNav (NASDAQ:NN) Shares Gap Down Following Weak Earnings

Shares of NextNav Inc. (NASDAQ:NN) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $10.27, but opened at $9.83. NextNav shares last traded at $12.56, with a volume of 625,178 shares trading hands.

The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their target price on shares of NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Insider Buying and Selling at NextNav

In other news, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the sale, the senior vice president now owns 1,087,019 shares of the company’s stock, valued at $19,914,188.08. The trade was a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the transaction, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,908 shares of company stock worth $141,851. Insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NextNav by 57.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,302 shares of the company’s stock valued at $1,670,000 after purchasing an additional 39,222 shares during the last quarter. Voloridge Investment Management LLC raised its position in NextNav by 466.5% in the 4th quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock worth $10,238,000 after purchasing an additional 541,842 shares during the period. Waverly Advisors LLC purchased a new stake in NextNav in the 4th quarter worth about $535,000. Squarepoint Ops LLC purchased a new stake in NextNav in the 4th quarter worth about $2,316,000. Finally, Two Sigma Investments LP purchased a new stake in NextNav in the 4th quarter worth about $511,000. Institutional investors own 79.16% of the company’s stock.

NextNav Price Performance

The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.57 billion, a PE ratio of -15.93 and a beta of 1.17. The stock’s 50-day moving average is $12.10 and its two-hundred day moving average is $11.86.

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.