NextNav (NASDAQ:NN) Shares Gap Down on Insider Selling

NextNav Inc. (NASDAQ:NN - Get Free Report) gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $11.87, but opened at $11.63. NextNav shares last traded at $11.65, with a volume of 116,295 shares changing hands.

Specifically, CAO Sammaad Shams sold 4,005 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the transaction, the chief accounting officer now directly owns 81,100 shares in the company, valued at approximately $909,131. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction dated Monday, March 17th. The stock was 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 of the company's stock, valued at approximately $17,410,520.34. This trade represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.24, for a total transaction of $64,405.20. Following the transaction, the chief financial officer now directly owns 857,206 shares in the company, valued at approximately $9,634,995.44. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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NextNav Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The company has a 50 day simple moving average of $11.78 and a 200-day simple moving average of $12.11. The firm has a market cap of $1.57 billion, a PE ratio of -15.96 and a beta of 1.17.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in NextNav by 14.9% in the 4th quarter. California State Teachers Retirement System now owns 49,229 shares of the company's stock worth $766,000 after purchasing an additional 6,385 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NextNav by 57.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,302 shares of the company's stock worth $1,670,000 after buying an additional 39,222 shares during the period. Voloridge Investment Management LLC raised its holdings in NextNav by 466.5% during the 4th quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company's stock valued at $10,238,000 after buying an additional 541,842 shares during the last quarter. Waverly Advisors LLC purchased a new stake in NextNav during the 4th quarter valued at $535,000. Finally, Squarepoint Ops LLC purchased a new stake in NextNav during the 4th quarter valued at $2,316,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

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.