NextNav (NASDAQ:NN) Shares Gap Up Following Insider Buying Activity

NextNav Inc. (NASDAQ:NN)’s stock price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $7.88, but opened at $8.51. NextNav shares last traded at $8.35, with a volume of 74,285 shares trading hands.

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

NextNav Price Performance

The firm’s fifty day moving average price is $7.99 and its 200 day moving average price is $5.91. 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 stock has a market cap of $1.01 billion, a PE ratio of -9.97 and a beta of 1.08.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The business had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $1.23 million. NextNav had a negative net margin of 2,133.30% and a negative return on equity of 109.93%. As a group, equities analysts expect that NextNav Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NN. Arizona State Retirement System purchased a new position in NextNav during the 4th quarter valued at about $47,000. Spire Wealth Management increased its position in NextNav by 120.0% during the 4th quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock valued at $49,000 after purchasing an additional 6,000 shares during the period. SG Americas Securities LLC purchased a new position in NextNav during the 4th quarter valued at about $67,000. Simplicity Wealth LLC purchased a new position in NextNav during the 1st quarter valued at about $68,000. Finally, Jump Financial LLC purchased a new position in NextNav during the 4th quarter valued at about $73,000. Hedge funds and other 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.