NextNav (NASDAQ:NN) Shares Gap Down to $6.91

NextNav Inc. (NASDAQ:NN) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.91, but opened at $6.51. NextNav shares last traded at $6.94, with a volume of 58,143 shares.

NextNav Price Performance

The company has a fifty day moving average of $4.42 and a 200 day moving average of $4.56. The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60.

Insider Activity

In related news, CAO Sammaad Shams sold 13,469 shares of the business’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 $56,973.87. Following the sale, the chief accounting officer now directly owns 74,122 shares in the company, valued at $313,536.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP David L. Knutson sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $5.01, for a total transaction of $100,200.00. Following the transaction, the senior vice president now owns 655,659 shares of the company’s stock, valued at $3,284,851.59. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sammaad Shams sold 13,469 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 value of $56,973.87. Following the transaction, the chief accounting officer now directly owns 74,122 shares in the company, valued at approximately $313,536.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 883,000 shares of company stock worth $3,806,160 and have sold 96,002 shares worth $421,598. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in NextNav by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,351,121 shares of the company’s stock worth $10,462,000 after purchasing an additional 35,058 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in NextNav during the fourth quarter worth $129,000. Legal & General Group Plc lifted its holdings in NextNav by 320.2% during the fourth quarter. Legal & General Group Plc now owns 25,562 shares of the company’s stock worth $114,000 after buying an additional 19,478 shares during the period. Barclays PLC lifted its holdings in NextNav by 23.8% during the fourth quarter. Barclays PLC now owns 333,875 shares of the company’s stock worth $1,486,000 after buying an additional 64,260 shares during the period. Finally, Whitebox Advisors LLC purchased a new stake in NextNav during the fourth quarter worth $603,000. 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.