Traders Purchase High Volume of Call Options on NextNav (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the target of unusually large options trading on Tuesday. Investors acquired 17,064 call options on the company. This represents an increase of 157% compared to the typical daily volume of 6,643 call options.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NN shares. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research report on Wednesday, October 8th. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NextNav currently has an average rating of “Hold” and a consensus target price of $20.00.

Hedge Funds Weigh In On NextNav

A number of hedge funds have recently added to or reduced their stakes in NN. Interval Partners LP purchased a new stake in shares of NextNav during the first quarter worth $9,827,000. Vanguard Group Inc. boosted its position in NextNav by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company’s stock valued at $57,591,000 after buying an additional 715,171 shares during the period. Troluce Capital Advisors LLC acquired a new position in NextNav during the 1st quarter worth $5,132,000. First Trust Advisors LP purchased a new stake in NextNav during the 2nd quarter worth about $4,726,000. Finally, Epoch Investment Partners Inc. raised its position in NextNav by 220.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 449,272 shares of the company’s stock valued at $5,468,000 after purchasing an additional 309,175 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Stock Performance

NASDAQ NN traded down $0.18 on Tuesday, reaching $12.46. 261,930 shares of the stock were exchanged, compared to its average volume of 1,351,949. The company has a current ratio of 11.53, a quick ratio of 11.54 and a debt-to-equity ratio of 32.42. NextNav has a one year low of $9.05 and a one year high of $18.54. The company’s 50-day simple moving average is $14.62 and its two-hundred day simple moving average is $14.43. The firm has a market capitalization of $1.68 billion, a PE ratio of -9.58 and a beta of 0.99.

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

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.