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

NextNav Inc. (NASDAQ:NN) saw unusually large options trading activity on Friday. Traders bought 10,644 call options on the stock. This is an increase of 240% compared to the average daily volume of 3,135 call options.

Insiders Place Their Bets

In other news, CFO Christian D. Gates sold 3,918 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the sale, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the sale, the senior vice president now directly owns 1,087,019 shares of the company’s stock, valued at $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,908 shares of company stock valued at $141,851 over the last three months. 11.30% of the stock is owned by company insiders.

Institutional Trading of NextNav

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE bought a new position in NextNav in the fourth quarter worth about $28,000. Russell Investments Group Ltd. raised its holdings in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after purchasing an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC bought a new position in NextNav in the fourth quarter worth about $78,000. Wharton Business Group LLC bought a new position in NextNav in the fourth quarter worth about $156,000. Finally, Mission Wealth Management LP bought a new position in NextNav in the fourth quarter worth about $156,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Down 1.4 %

Shares of NN opened at $11.04 on Friday. The firm has a market capitalization of $1.44 billion, a P/E ratio of -14.72 and a beta of 1.17. NextNav has a 12-month low of $3.95 and a 12-month high of $18.54. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $11.90 and a 200-day moving average price of $11.92.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million. Equities research analysts expect that NextNav will post -0.74 earnings per share for the current year.

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.