NextNav (NASDAQ:NN) Trading 4.3% Higher - Should You Buy?

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) were up 4.3% on Monday . The company traded as high as $9.13 and last traded at $9.13. Approximately 299,370 shares were traded during trading, a decline of 63% from the average daily volume of 817,858 shares. The stock had previously closed at $8.75.

NextNav Price Performance

The company has a market cap of $1.19 billion, a PE ratio of -11.09 and a beta of 1.06. 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 firm has a 50 day simple moving average of $7.53 and a 200-day simple moving average of $7.84.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.07). NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. The firm had revenue of $1.11 million during the quarter, compared to analysts' expectations of $1.63 million. During the same period in the previous year, the firm earned ($0.15) EPS. As a group, research analysts predict that NextNav Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Transactions at NextNav

In other NextNav news, Director Neil S. Subin purchased 100,000 shares of the firm's stock in a transaction on 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 completion of the purchase, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Neil S. Subin purchased 100,000 shares of the business's stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the purchase, the director now owns 2,365,213 shares of the company's stock, valued at $16,367,273.96. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil S. Subin purchased 125,000 shares of the firm's stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $6.93 per share, with a total value 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. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 15.70% of the company's stock.

Hedge Funds Weigh In On NextNav

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in NextNav during the 2nd quarter worth about $50,000. Principal Financial Group Inc. acquired a new stake in NextNav during the second quarter worth about $82,000. Quest Partners LLC purchased a new position in NextNav during the second quarter valued at approximately $88,000. Wolverine Asset Management LLC raised its position in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company's stock valued at $98,000 after acquiring an additional 9,248 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in NextNav by 34.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company's stock valued at $113,000 after acquiring an additional 4,405 shares during the period. 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.