NextNav (NASDAQ:NN) Trading Down 9.5% - Time to Sell?

NextNav Inc. (NASDAQ:NN - Get Free Report)'s share price traded down 9.5% during mid-day trading on Tuesday . The stock traded as low as $11.39 and last traded at $11.12. 488,133 shares were traded during trading, a decline of 53% from the average session volume of 1,032,543 shares. The stock had previously closed at $12.29.

NextNav Stock Up 1.5 %

The stock has a 50-day simple moving average of $11.71 and a two-hundred day simple moving average of $12.62. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm has a market cap of $1.59 billion, a PE ratio of -16.13 and a beta of 1.03.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.73 million. Analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at NextNav

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.23, for a total value of $706,007.64. Following the sale, the chief executive officer now directly owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. The trade was a 3.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sammaad Shams sold 4,005 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the sale, the chief accounting officer now directly owns 81,100 shares in the company, valued at $909,131. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,705 shares of company stock worth $816,495. 15.70% of the stock is owned by insiders.

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Institutional Investors Weigh In On NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. Harbor Investment Advisory LLC boosted its position in NextNav by 331.0% during the first quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock valued at $26,000 after purchasing an additional 1,655 shares in the last quarter. Rhumbline Advisers raised its stake in NextNav by 6.4% in the first quarter. Rhumbline Advisers now owns 105,929 shares of the company's stock valued at $1,289,000 after buying an additional 6,413 shares during the last quarter. GAMMA Investing LLC boosted its stake in NextNav by 1,754.6% in the 1st quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock worth $122,000 after purchasing an additional 9,510 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of NextNav by 14.9% during the fourth quarter. California State Teachers Retirement System now owns 49,229 shares of the company's stock valued at $766,000 after buying an additional 6,385 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in NextNav by 57.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,302 shares of the company's stock valued at $1,670,000 after purchasing an additional 39,222 shares during the last quarter. 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.