NextNav (NASDAQ:NN) Trading 8.6% Higher

NextNav Inc. (NASDAQ:NN) shares rose 8.6% on Friday . The company traded as high as $9.09 and last traded at $8.98. Approximately 470,003 shares traded hands during trading, a decline of 48% from the average daily volume of 912,082 shares. The stock had previously closed at $8.27.

NextNav Trading Up 14.0 %

The firm has a market capitalization of $1.06 billion, a P/E ratio of -13.29 and a beta of 1.40. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $5.92 and a 200-day simple moving average of $4.91.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $1.21 million for 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, equities research analysts forecast that NextNav Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Robert Lantz sold 8,776 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $37,122.48. Following the completion of the transaction, the general counsel now owns 90,433 shares of the company’s stock, valued at $382,531.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NextNav news, CAO Sammaad Shams sold 13,469 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the completion of the transaction, the chief accounting officer now owns 74,122 shares of the company’s stock, valued at approximately $313,536.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $37,122.48. Following the completion of the sale, the general counsel now directly owns 90,433 shares in the company, valued at $382,531.59. The disclosure for this sale can be found here. In the last quarter, insiders bought 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 currently owned by insiders.

Institutional Investors Weigh In On NextNav

Several large investors have recently bought and sold shares of the business. Simplicity Wealth LLC bought a new stake in NextNav during the first quarter worth approximately $68,000. Arizona State Retirement System bought a new stake in NextNav in the fourth quarter worth $47,000. Spire Wealth Management boosted its stake in NextNav by 120.0% during the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after buying an additional 6,000 shares during the period. SG Americas Securities LLC purchased a new position in NextNav during the fourth quarter worth $67,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of NextNav in the third quarter valued at $81,000. 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.