NextNav Inc. (NASDAQ:NN – Get Free Report) shares rose 4.3% on Monday . The company traded as high as $9.13 and last traded at $9.13. Approximately 299,370 shares were traded during trading, a decline of 63% from the average daily volume of 817,858 shares. The stock had previously closed at $8.75.
NextNav Stock Performance
The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -12.78 and a beta of 1.06. The stock’s fifty day moving average is $7.58 and its two-hundred day moving average is $7.86. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80.
NextNav (NASDAQ:NN – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $1.11 million for the quarter, compared to analyst estimates of $1.63 million. NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. On average, analysts predict that NextNav Inc. will post -0.8 earnings per share for the current year.
Insiders Place Their Bets
Institutional Investors Weigh In On NextNav
A number of institutional investors have recently modified their holdings of NN. nVerses Capital LLC acquired a new position in NextNav in the second quarter valued at about $50,000. Principal Financial Group Inc. acquired a new position in NextNav in the second quarter valued at about $82,000. Quest Partners LLC acquired a new position in NextNav in the second quarter valued at about $88,000. Wolverine Asset Management LLC raised its stake in NextNav by 323.6% in the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after purchasing an additional 9,248 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in NextNav by 34.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after purchasing an additional 4,405 shares in the last quarter. Institutional investors own 79.16% of the company’s stock.
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.
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