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

NextNav Inc. (NASDAQ:NN)’s stock price gapped down before the market opened 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 Price Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.01 and a current ratio of 4.01. The business’s 50 day simple moving average is $7.95 and its two-hundred day simple moving average is $6.10.

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

Insider Buying and Selling

In related news, SVP Arun Raghupathy sold 3,490 shares of the firm’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 value of $25,372.30. Following the transaction, the senior vice president now 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 SEC, which is accessible through this link. In other NextNav news, CAO Sammaad Shams sold 3,769 shares of NextNav stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $7.64, for a total transaction of $28,795.16. Following the transaction, the chief accounting officer now owns 70,237 shares of the company’s stock, valued at $536,610.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $25,372.30. Following the transaction, the senior vice president now directly owns 1,092,595 shares in the company, valued at approximately $7,943,165.65. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 369,439 shares of company stock valued at $2,768,533 and have sold 36,758 shares valued at $278,309. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextNav

Large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System bought a new stake in shares of NextNav during the fourth quarter valued at approximately $47,000. Spire Wealth Management raised its position in shares of NextNav by 120.0% during the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock valued at $49,000 after buying an additional 6,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of NextNav during the fourth quarter valued at approximately $67,000. Simplicity Wealth LLC bought a new stake in shares of NextNav during the first quarter valued at approximately $68,000. Finally, Jump Financial LLC bought a new stake in shares of NextNav during the fourth quarter valued at approximately $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.