NextNav (NASDAQ:NN) Stock Price Down 6.2%

NextNav Inc. (NASDAQ:NN) fell 6.2% during mid-day trading on Monday . The stock traded as low as $8.38 and last traded at $8.46. 441,178 shares were traded during trading, a decline of 51% from the average session volume of 907,453 shares. The stock had previously closed at $9.02.

NextNav Trading Down 2.4 %

The business has a fifty day moving average price of $6.79 and a 200 day moving average price of $5.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.31 and a current ratio of 9.31. The firm has a market capitalization of $931.77 million, a price-to-earnings ratio of -12.70 and a beta of 1.16.

NextNav (NASDAQ:NN) last released its quarterly earnings data 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 firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million. NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. As a group, equities analysts forecast that NextNav Inc. will post -0.58 earnings per share for the current year.

Insider Activity

In other NextNav news, General Counsel Robert Lantz sold 8,776 shares of the firm’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 transaction, the general counsel now directly owns 90,433 shares of the company’s stock, valued at $382,531.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NextNav news, Director Neil S. Subin bought 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was bought at an average cost of $4.72 per share, for a total transaction of $236,000.00. Following the completion of the purchase, the director now directly owns 2,115,213 shares of the company’s stock, valued at $9,983,805.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $37,122.48. Following the sale, the general counsel now owns 90,433 shares in the company, valued at $382,531.59. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 583,000 shares of company stock valued at $2,633,160 and have sold 75,000 shares valued at $317,250. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. bought a new position in NextNav in the 3rd quarter worth approximately $156,000. Bank of New York Mellon Corp grew its stake 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 in the last quarter. General American Investors Co. Inc. increased its holdings in shares of NextNav by 55.9% during the third quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company’s stock valued at $6,432,000 after purchasing an additional 448,884 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of NextNav during the third quarter valued at about $81,000. Finally, Ancora Advisors LLC acquired a new stake in NextNav in the third quarter worth about $495,000. 79.16% of the stock is currently owned by institutional investors.

About NextNav

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.