NextNav (NASDAQ:NN) Shares Gap Down to $7.95

NextNav Inc. (NASDAQ:NN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $7.95, but opened at $7.77. NextNav shares last traded at $7.91, with a volume of 24,937 shares trading hands.

NextNav Stock Up 0.8 %

The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.87. The company has a market cap of $980.69 million, a price-to-earnings ratio of -10.05 and a beta of 1.08. The firm’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $6.08.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.28) earnings per share 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 firm had revenue of $1.05 million during the quarter, compared to analyst estimates of $1.23 million. Sell-side analysts anticipate that NextNav Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, SVP Arun Raghupathy sold 3,490 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $7.27, for a total value of $25,372.30. Following the completion of the transaction, the senior vice president now owns 1,092,595 shares in the company, valued at approximately $7,943,165.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NextNav news, SVP Arun Raghupathy sold 3,490 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $7.27, for a total transaction of $25,372.30. Following the completion of the sale, the senior vice president now directly owns 1,092,595 shares of the company’s stock, valued at $7,943,165.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Joseph D. Samberg acquired 81,200 shares of NextNav stock in a transaction on Monday, June 24th. The shares were purchased at an average cost of $7.83 per share, with a total value of $635,796.00. Following the completion of the purchase, the insider now directly owns 10,000,200 shares of the company’s stock, valued at approximately $78,301,566. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 369,439 shares of company stock worth $2,768,533 and sold 36,758 shares worth $278,309. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On NextNav

A number of large investors have recently made changes to their positions in the business. Ancora Advisors LLC increased its holdings in shares of NextNav by 4.7% in the 1st quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock valued at $1,749,000 after purchasing an additional 12,000 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in NextNav by 34.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock worth $113,000 after buying an additional 4,405 shares during the last quarter. PEAK6 Investments LLC increased its holdings in NextNav by 31.0% in the first quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock worth $277,000 after buying an additional 9,976 shares during the last quarter. Wolf Hill Capital Management LP acquired a new position in NextNav in the first quarter worth approximately $12,195,000. Finally, Vanguard Group Inc. increased its holdings in NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after buying an additional 887,075 shares during the last quarter. Institutional investors and hedge funds 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.