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

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

NextNav Price Performance

The stock has a market capitalization of $972.43 million, a P/E ratio of -12.94 and a beta of 1.39. The firm has a fifty day moving average price of $5.65 and a two-hundred day moving average price of $4.83. The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. The firm had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $1.19 million. On average, analysts expect that NextNav Inc. will post -0.59 EPS for the current year.

Insider Transactions at NextNav

In other news, SVP Arun Raghupathy sold 23,547 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $4.23, for a total transaction of $99,603.81. Following the transaction, the senior vice president now directly owns 1,130,538 shares of the company’s stock, valued at approximately $4,782,175.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NextNav news, Director Neil S. Subin acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price 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 in the company, valued at approximately $9,983,805.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Arun Raghupathy sold 23,547 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $99,603.81. Following the sale, the senior vice president now owns 1,130,538 shares of the company’s stock, valued at $4,782,175.74. The disclosure for this sale can be found here. Over the last three months, insiders purchased 583,000 shares of company stock worth $2,633,160 and sold 76,002 shares worth $321,398. Company insiders own 11.30% of the company’s stock.

Institutional Trading of NextNav

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kolinsky Wealth Management LLC increased its stake in shares of NextNav by 64.3% in the fourth quarter. Kolinsky Wealth Management LLC now owns 30,363 shares of the company’s stock worth $135,000 after purchasing an additional 11,883 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in NextNav by 273.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 24,999 shares of the company’s stock worth $111,000 after buying an additional 18,309 shares in the last quarter. General American Investors Co. Inc. increased its stake in NextNav by 33.2% in the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after buying an additional 415,554 shares in the last quarter. Jump Financial LLC bought a new stake in NextNav during the fourth quarter valued at about $73,000. Finally, Spire Wealth Management lifted its position in shares of NextNav by 120.0% in the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock valued at $49,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.