NextNav (NASDAQ:NN) Sets New 52-Week High - Here's What Happened

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.35 and last traded at $12.34, with a volume of 636495 shares changing hands. The stock had previously closed at $11.95.

NextNav Stock Performance

The stock has a market capitalization of $1.63 billion, a P/E ratio of -15.08 and a beta of 0.93. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average price of $8.22 and a 200-day moving average price of $8.06.

NextNav (NASDAQ:NN - Get Free Report) last posted 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). NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. The firm had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.63 million. During the same period in the prior year, the company posted ($0.15) EPS. On average, sell-side analysts expect that NextNav Inc. will post -0.8 EPS for the current year.

Insider Buying and Selling at NextNav

In other news, Director Neil S. Subin bought 125,000 shares of the stock in a transaction on Monday, August 26th. The shares were bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the completion of the acquisition, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Neil S. Subin acquired 125,000 shares of the firm's stock in a transaction dated 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 completion of the purchase, the director now directly owns 2,490,213 shares of the company's stock, valued at $17,257,176.09. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neil S. Subin acquired 100,000 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the purchase, the director now directly 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. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of NextNav

Several institutional investors have recently made changes to their positions in NN. nVerses Capital LLC purchased a new position in NextNav during the 2nd quarter valued at approximately $50,000. Principal Financial Group Inc. purchased a new position in NextNav during the 2nd quarter valued at approximately $82,000. Quest Partners LLC purchased a new position in NextNav during the 2nd quarter valued at approximately $88,000. Wolverine Asset Management LLC grew its holdings in NextNav by 323.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company's stock valued at $98,000 after buying an additional 9,248 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in NextNav by 34.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company's stock valued at $113,000 after buying an additional 4,405 shares in the last quarter. Hedge funds and other 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.