NextNav (NASDAQ:NN) Hits New 52-Week High - Should You Buy?

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.64 and last traded at $9.63, with a volume of 180982 shares traded. The stock had previously closed at $9.43.

NextNav Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -11.84 and a beta of 1.06. The stock has a 50-day moving average of $7.58 and a 200 day moving average of $7.86.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The company had revenue of $1.11 million during the quarter, compared to the consensus estimate 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 prior year, the business earned ($0.15) earnings per share. On average, analysts expect that NextNav Inc. will post -0.8 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On NextNav

A number of large investors have recently modified their holdings of the business. Raymond James & Associates boosted its holdings in shares of NextNav by 1.0% in the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company's stock valued at $1,265,000 after buying an additional 1,500 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of NextNav by 9.4% in the 1st quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company's stock valued at $230,000 after acquiring an additional 3,000 shares during the period. CIBC Asset Management Inc increased its stake in shares of NextNav by 19.0% during the 2nd quarter. CIBC Asset Management Inc now owns 19,652 shares of the company's stock worth $159,000 after purchasing an additional 3,140 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of NextNav by 34.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company's stock worth $113,000 after purchasing an additional 4,405 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of NextNav in the 2nd quarter valued at about $50,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Company Profile

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.