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

NextNav Inc. (NASDAQ:NN)’s share price hit 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. The stock had previously closed at $8.40.

NextNav Price Performance

The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $979.75 million, a PE ratio of -13.19 and a beta of 1.40. The firm’s fifty day simple moving average is $5.84 and its 200-day simple moving average is $4.88.

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

Insider Activity

In other news, 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 completion of the transaction, the senior vice president now directly owns 1,130,538 shares of the company’s stock, valued at $4,782,175.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NextNav news, SVP Arun Raghupathy sold 23,547 shares of the company’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 completion of the sale, the senior vice president now directly owns 1,130,538 shares of the company’s stock, valued at $4,782,175.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Robert Lantz sold 8,776 shares of the company’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 $37,122.48. Following 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 purchased 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 owned by corporate insiders.

Institutional Trading of NextNav

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NN. Raymond James Financial Services Advisors Inc. bought a new position in shares of NextNav in the third quarter worth approximately $156,000. Bank of New York Mellon Corp boosted its position in shares of NextNav by 8.9% in the third quarter. Bank of New York Mellon Corp now owns 162,405 shares of the company’s stock worth $835,000 after purchasing an additional 13,280 shares during the period. General American Investors Co. Inc. boosted its position in shares of NextNav by 55.9% in the third quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company’s stock worth $6,432,000 after purchasing an additional 448,884 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of NextNav in the third quarter worth approximately $81,000. Finally, Ancora Advisors LLC bought a new position in shares of NextNav in the third quarter worth approximately $495,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.