NextNav (NASDAQ:NN) Hits New 1-Year High at $8.05

Shares of NextNav Inc. (NASDAQ:NN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $8.05 and last traded at $7.98, with a volume of 383128 shares changing hands. The stock had previously closed at $7.06.

NextNav Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.31 and a current ratio of 9.31. The company has a market cap of $876.76 million, a PE ratio of -11.80 and a beta of 1.40. The company’s 50-day simple moving average is $5.42 and its 200 day simple moving average is $4.76.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. The business had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $1.19 million. On average, sell-side analysts predict that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other NextNav news, major shareholder Joseph D. Samberg purchased 150,000 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was bought at an average price of $3.86 per share, with a total value of $579,000.00. Following the transaction, the insider now directly owns 9,350,000 shares of the company’s stock, valued at approximately $36,091,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $37,122.48. Following the completion of the sale, the general counsel now directly owns 90,433 shares of the company’s stock, valued at approximately $382,531.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Joseph D. Samberg acquired 150,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were purchased at an average cost of $3.86 per share, with a total value of $579,000.00. Following the completion of the transaction, the insider now owns 9,350,000 shares in the company, valued at approximately $36,091,000. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 883,000 shares of company stock valued at $3,806,160 and sold 76,002 shares valued at $321,398. 11.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NextNav

Institutional investors have recently modified their holdings of the company. General American Investors Co. Inc. lifted its position in NextNav by 55.9% in the third quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company’s stock valued at $6,432,000 after acquiring an additional 448,884 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in NextNav in the third quarter valued at $156,000. Kolinsky Wealth Management LLC purchased a new stake in NextNav in the third quarter valued at $95,000. Bank of New York Mellon Corp lifted its position in NextNav by 8.9% in the third quarter. Bank of New York Mellon Corp now owns 162,405 shares of the company’s stock valued at $835,000 after acquiring an additional 13,280 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in NextNav in the third quarter valued at $495,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.