NextNav Sees Unusually Large Options Volume (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 31,476 call options on the stock. This is an increase of 502% compared to the average volume of 5,225 call options.

Wall Street Analysts Forecast Growth

NN has been the topic of several research analyst reports. Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen raised NextNav from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NextNav currently has a consensus rating of “Reduce”.

NextNav Trading Down 3.0%

Shares of NASDAQ:NN traded down $0.47 during trading on Wednesday, hitting $14.79. 1,270,151 shares of the stock were exchanged, compared to its average volume of 1,085,082. The company has a market cap of $1.99 billion, a PE ratio of -11.37 and a beta of 0.98. NextNav has a 12-month low of $9.05 and a 12-month high of $18.25. The company has a fifty day moving average price of $14.65 and a two-hundred day moving average price of $15.05.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $0.89 million during the quarter, compared to the consensus estimate of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. Equities research analysts anticipate that NextNav will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $13.82, for a total transaction of $965,368.46. Following the completion of the transaction, the chief executive officer owned 1,340,799 shares of the company’s stock, valued at approximately $18,529,842.18. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Sammaad Shams sold 1,576 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the completion of the sale, the chief accounting officer directly owned 65,995 shares in the company, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 671,544 shares of company stock worth $8,402,907. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NextNav by 1.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,253 shares of the company’s stock worth $733,000 after buying an additional 714 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of NextNav by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 18,056 shares of the company’s stock worth $274,000 after acquiring an additional 765 shares during the period. Nisa Investment Advisors LLC boosted its stake in NextNav by 7.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,494 shares of the company’s stock valued at $175,000 after purchasing an additional 826 shares during the period. Ameritas Investment Partners Inc. grew its position in NextNav by 11.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,990 shares of the company’s stock worth $137,000 after purchasing an additional 892 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of NextNav by 15.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock valued at $105,000 after purchasing an additional 898 shares during the period. 79.16% of the stock is owned by institutional investors and hedge funds.

NextNav Company Profile

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.