NextNav (NASDAQ:NN) Trading 7.9% Higher - Here's What Happened

NextNav Inc. (NASDAQ:NN - Get Free Report) traded up 7.9% during trading on Monday . The company traded as high as $13.04 and last traded at $12.91. 759,864 shares were traded during mid-day trading, a decline of 24% from the average session volume of 994,756 shares. The stock had previously closed at $11.97.

NextNav Trading Down 0.6 %

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -17.23 and a beta of 1.17. 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's 50 day moving average is $11.79 and its 200 day moving average is $12.20.

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

Insider Activity at NextNav

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the sale, the chief financial officer now owns 857,206 shares of the company's stock, valued at $9,634,995.44. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,705 shares of company stock worth $816,495 in the last quarter. 15.70% of the stock is owned by company insiders.

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Hedge Funds Weigh In On NextNav

Institutional investors and hedge funds have recently bought and sold shares of the business. Fleming James B JR acquired a new stake in shares of NextNav during the fourth quarter worth approximately $80,618,000. Susquehanna Advisors Group Inc. acquired a new stake in shares of NextNav during the 4th quarter valued at $67,648,000. Vanguard Group Inc. grew its holdings in shares of NextNav by 23.3% during the 4th quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company's stock valued at $62,505,000 after acquiring an additional 759,775 shares in the last quarter. Invesco Ltd. increased its stake in shares of NextNav by 2,461.2% in the fourth quarter. Invesco Ltd. now owns 712,385 shares of the company's stock worth $11,085,000 after acquiring an additional 684,571 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in shares of NextNav by 466.5% during the fourth quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company's stock worth $10,238,000 after acquiring an additional 541,842 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.