Arun Raghupathy Sells 3,490 Shares of NextNav Inc. (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN - Get Free Report) SVP Arun Raghupathy sold 3,490 shares of the firm's stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $7.27, for a total transaction of $25,372.30. Following the completion of the transaction, the senior vice president now directly owns 1,092,595 shares in the company, valued at $7,943,165.65. The sale was disclosed in a document filed with the SEC, which is available at this link.

NextNav Price Performance

NN traded up $0.01 during trading on Tuesday, reaching $7.41. The company's stock had a trading volume of 657,813 shares, compared to its average volume of 870,475. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $5.81. NextNav Inc. has a 1 year low of $2.71 and a 1 year high of $9.50. The company has a market cap of $907.21 million, a price-to-earnings ratio of -9.38 and a beta of 1.08.

NextNav (NASDAQ:NN - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.14). NextNav had a negative return on equity of 109.93% and a negative net margin of 2,133.30%. The business had revenue of $1.05 million during the quarter, compared to analysts' expectations of $1.23 million. As a group, analysts anticipate that NextNav Inc. will post -0.69 EPS for the current year.

Institutional Trading of NextNav

Hedge funds and other institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC acquired a new stake in shares of NextNav during the 1st quarter worth approximately $68,000. Arizona State Retirement System acquired a new stake in shares of NextNav during the 4th quarter worth approximately $47,000. Spire Wealth Management increased its holdings in shares of NextNav by 120.0% during the 4th quarter. Spire Wealth Management now owns 11,000 shares of the company's stock worth $49,000 after buying an additional 6,000 shares during the last quarter. SG Americas Securities LLC acquired a new stake in NextNav in the 4th quarter valued at approximately $67,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in NextNav in the 3rd quarter valued at approximately $81,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.