Stock Traders Buy High Volume of NextNav Call Options (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN - Get Free Report) was the target of some unusual options trading on Friday. Traders bought 10,644 call options on the stock. This represents an increase of approximately 240% compared to the average volume of 3,135 call options.

Institutional Investors Weigh In On NextNav

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new stake in shares of NextNav during the fourth quarter worth $28,000. Russell Investments Group Ltd. increased its holdings in shares of NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares during the period. Golden State Wealth Management LLC bought a new position in shares of NextNav in the fourth quarter worth $78,000. Wharton Business Group LLC bought a new position in shares of NextNav in the fourth quarter worth $156,000. Finally, Mission Wealth Management LP bought a new position in shares of NextNav in the fourth quarter worth $156,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

NextNav Stock Performance

Shares of NASDAQ:NN traded up $0.18 during trading on Tuesday, hitting $11.56. 812,342 shares of the company were exchanged, compared to its average volume of 995,132. The company has a market cap of $1.52 billion, a PE ratio of -15.41 and a beta of 1.17. The stock has a 50 day moving average of $11.86 and a 200 day moving average of $11.98. NextNav has a 52-week low of $3.95 and a 52-week high of $18.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

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

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.