NextNav (NASDAQ:NN) Shares Down 3.6%

NextNav Inc. (NASDAQ:NNGet Free Report) dropped 3.6% during trading on Monday . The stock traded as low as $8.12 and last traded at $8.13. Approximately 62,255 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 871,173 shares. The stock had previously closed at $8.43.

NextNav Trading Up 5.0 %

The firm’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $6.22. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.87.

NextNav (NASDAQ:NNGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). NextNav had a negative net margin of 2,133.30% and a negative return on equity of 109.93%. The business had revenue of $1.05 million during the quarter, compared to analyst estimates of $1.23 million. Sell-side analysts predict that NextNav Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Joseph D. Samberg acquired 181,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $7.30 per share, for a total transaction of $1,321,300.00. Following the completion of the acquisition, the insider now directly owns 9,881,450 shares of the company’s stock, valued at approximately $72,134,585. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Joseph D. Samberg acquired 181,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $7.30 per share, with a total value of $1,321,300.00. Following the purchase, the insider now owns 9,881,450 shares of the company’s stock, valued at $72,134,585. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sammaad Shams sold 3,769 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $7.64, for a total value of $28,795.16. Following the transaction, the chief accounting officer now directly owns 70,237 shares of the company’s stock, valued at approximately $536,610.68. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 369,439 shares of company stock valued at $2,768,533 and sold 36,758 shares valued at $278,309. Corporate insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On NextNav

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System acquired a new position in NextNav in the 4th quarter worth approximately $47,000. Spire Wealth Management grew 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 valued at $49,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in NextNav during the fourth quarter valued at $67,000. Simplicity Wealth LLC acquired a new stake in NextNav during the 1st quarter worth about $68,000. Finally, Jump Financial LLC acquired a new stake in NextNav during the 4th quarter worth about $73,000. 79.16% of the stock is owned by institutional investors and hedge funds.

NextNav Company Profile

(Get Free Report)

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.

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