NextNav (NASDAQ:NN) Stock Price Up 4.3% – Here’s Why

NextNav Inc. (NASDAQ:NN) 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) 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

In related news, Director Neil S. Subin acquired 125,000 shares of NextNav stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at $17,257,176.09. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Neil S. Subin acquired 125,000 shares of NextNav stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at $17,257,176.09. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neil S. Subin acquired 100,000 shares of NextNav stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 15.70% of the company’s stock.

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.