NextNav (NASDAQ:NN) Reaches New 52-Week High – What’s Next?

NextNav Inc. (NASDAQ:NN)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.83 and last traded at $10.79, with a volume of 8550 shares. The stock had previously closed at $10.47.

NextNav Price Performance

The company’s fifty day moving average is $7.74 and its two-hundred day moving average is $7.91. 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 has a market cap of $1.41 billion, a price-to-earnings ratio of -13.09 and a beta of 1.06.

NextNav (NASDAQ:NN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.63 million. NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. During the same quarter last year, the company earned ($0.15) earnings per share. Equities research analysts forecast that NextNav Inc. will post -0.8 EPS for the current year.

Insider Buying and Selling

In other NextNav news, Director Neil S. Subin acquired 125,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $6.93 per share, with a total value of $866,250.00. Following the transaction, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Neil S. Subin acquired 125,000 shares of NextNav stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the transaction, the director now directly owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil S. Subin acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $6.92 per share, with a total value of $692,000.00. Following the completion of the purchase, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextNav

A number of hedge funds have recently made changes to their positions in NN. Vanguard Group Inc. lifted its holdings in NextNav by 37.7% in 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 during the period. Wolf Hill Capital Management LP lifted its stake in shares of NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after acquiring an additional 269,754 shares during the period. Empyrean Capital Partners LP lifted its stake in shares of NextNav by 56.6% in the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after acquiring an additional 238,845 shares during the period. Ingalls & Snyder LLC boosted its holdings in shares of NextNav by 20.7% in the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock valued at $2,408,000 after acquiring an additional 51,000 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in shares of NextNav by 4.7% during the first quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock valued at $1,749,000 after acquiring an additional 12,000 shares during the period. 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.