NextNav (NASDAQ:NN) Major Shareholder Joseph Samberg Purchases 58,457 Shares

NextNav Inc. (NASDAQ:NN) major shareholder Joseph Samberg bought 58,457 shares of the business’s stock in a transaction on Friday, November 21st. The stock was purchased at an average price of $11.86 per share, for a total transaction of $693,300.02. Following the purchase, the insider directly owned 9,745,600 shares in the company, valued at approximately $115,582,816. This represents a 0.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NextNav Stock Up 8.4%

Shares of NASDAQ NN traded up $1.00 during midday trading on Monday, reaching $12.96. The company’s stock had a trading volume of 1,725,199 shares, compared to its average volume of 1,352,845. The stock has a 50 day simple moving average of $13.87 and a 200-day simple moving average of $14.40. The company has a current ratio of 11.53, a quick ratio of 11.54 and a debt-to-equity ratio of 32.42. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -9.97 and a beta of 0.99. NextNav Inc. has a fifty-two week low of $9.05 and a fifty-two week high of $18.54.

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

Analyst Upgrades and Downgrades

NN has been the topic of a number of recent research reports. Zacks Research raised NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen downgraded NextNav from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

Institutional Trading of NextNav

A number of hedge funds have recently modified their holdings of the stock. AlphaQuest LLC bought a new position in NextNav in the 2nd quarter valued at about $25,000. Clearstead Advisors LLC bought a new stake in NextNav in the 3rd quarter valued at $52,000. Harbor Investment Advisory LLC grew its holdings in NextNav by 71.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock valued at $56,000 after buying an additional 1,530 shares in the last quarter. FWL Investment Management LLC bought a new position in NextNav during the 2nd quarter worth $70,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of NextNav by 15.0% during the second quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock worth $105,000 after buying an additional 898 shares in 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.