Traders Purchase Large Volume of Call Options on NextNav (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw some unusual options trading on Wednesday. Stock traders purchased 31,476 call options on the company. This represents an increase of approximately 502% compared to the average daily volume of 5,225 call options.

NextNav Trading Down 3.9%

NextNav stock opened at $14.17 on Friday. NextNav has a 1 year low of $9.05 and a 1 year high of $18.25. The company’s 50-day moving average is $14.71 and its two-hundred day moving average is $15.04. The company has a market cap of $1.91 billion, a PE ratio of -10.90 and a beta of 0.98.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $1.13 million. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 556.83%. Research analysts forecast that NextNav will post -0.74 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on NN shares. Wall Street Zen raised shares of NextNav from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. Finally, Zacks Research upgraded NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $13.82, for a total value of $965,368.46. Following the completion of the sale, the chief executive officer directly owned 1,340,799 shares of the company’s stock, valued at $18,529,842.18. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sammaad Shams sold 1,576 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the transaction, the chief accounting officer owned 65,995 shares in the company, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 671,544 shares of company stock worth $8,402,907. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextNav

Several institutional investors have recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in NextNav during the second quarter worth approximately $25,000. Clearstead Advisors LLC acquired a new position in shares of NextNav during the 3rd quarter worth approximately $52,000. Harbor Investment Advisory LLC raised its stake in NextNav by 71.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock valued at $56,000 after acquiring an additional 1,530 shares during the period. FWL Investment Management LLC bought a new stake in NextNav in the 2nd quarter valued at $70,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in NextNav by 15.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock valued at $105,000 after purchasing an additional 898 shares during the last quarter. Institutional investors own 79.16% of the company’s stock.

NextNav Company Profile

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.