NextNav Target of Unusually High Options Trading (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw unusually large options trading on Tuesday. Stock traders purchased 44,566 call options on the stock. This is an increase of 545% compared to the average volume of 6,908 call options.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NN. Wall Street Zen lowered shares of NextNav from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Insider Buying and Selling

In other NextNav news, General Counsel James S. Black sold 9,429 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $17.97, for a total transaction of $169,439.13. Following the sale, the general counsel directly owned 93,566 shares in the company, valued at $1,681,381.02. This represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Gray sold 1,405 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.11, for a total transaction of $25,444.55. Following the completion of the transaction, the chief financial officer directly owned 131,786 shares in the company, valued at approximately $2,386,644.46. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,188 shares of company stock worth $1,656,508 over the last three months. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of NextNav by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock valued at $115,361,000 after buying an additional 573,214 shares during the last quarter. Susquehanna Advisors Group Inc. raised its position in shares of NextNav by 1.4% during the fourth quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company’s stock worth $91,226,000 after acquiring an additional 74,995 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NextNav by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company’s stock worth $37,754,000 after acquiring an additional 100,058 shares during the last quarter. State Street Corp lifted its stake in shares of NextNav by 1.9% in the fourth quarter. State Street Corp now owns 2,171,877 shares of the company’s stock worth $36,140,000 after acquiring an additional 40,762 shares during the period. Finally, Plustick Management LLC lifted its stake in shares of NextNav by 1.3% in the fourth quarter. Plustick Management LLC now owns 2,065,818 shares of the company’s stock worth $34,375,000 after acquiring an additional 25,818 shares during the period. 79.16% of the stock is owned by institutional investors.

NextNav Price Performance

NASDAQ:NN opened at $19.36 on Thursday. NextNav has a one year low of $10.64 and a one year high of $19.91. The company has a market cap of $2.63 billion, a PE ratio of -12.57 and a beta of 0.96. The firm’s 50 day simple moving average is $16.35 and its 200 day simple moving average is $15.30.

NextNav (NASDAQ:NN) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). The firm had revenue of $0.95 million during the quarter, compared to the consensus estimate of $0.86 million. NextNav had a negative net margin of 4,503.43% and a negative return on equity of 556.83%. Equities research analysts expect that NextNav will post -0.74 EPS for the current year.

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.