NextNav (NASDAQ:NN) Trading Down 6.1%

Shares of NextNav Inc. (NASDAQ:NN) fell 6.1% on Monday . The company traded as low as $7.22 and last traded at $7.22. 155,981 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 847,652 shares. The stock had previously closed at $7.69.

NextNav Stock Performance

The company has a market cap of $853.36 million, a price-to-earnings ratio of -9.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93. The firm’s 50 day simple moving average is $7.67 and its 200-day simple moving average is $7.54.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.63 million. During the same period in the prior year, the business posted ($0.15) EPS. On average, sell-side analysts predict that NextNav Inc. will post -0.81 EPS for the current year.

Insiders Place Their Bets

In related news, Director Neil S. Subin acquired 125,000 shares of NextNav stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the acquisition, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Neil S. Subin bought 100,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $6.92 per share, with a total value of $692,000.00. Following the purchase, the director now directly owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neil S. Subin acquired 125,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The disclosure for this purchase can be found here. 15.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NextNav

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after purchasing an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP lifted its holdings in shares of NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after purchasing an additional 269,754 shares during the period. General American Investors Co. Inc. increased its stake in shares of NextNav by 33.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after acquiring an additional 415,554 shares during the period. Empyrean Capital Partners LP lifted its holdings in NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after acquiring an additional 238,845 shares during the period. Finally, Ingalls & Snyder LLC grew its position in NextNav by 20.7% during the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock worth $2,408,000 after buying an additional 51,000 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.