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

NextNav Inc. (NASDAQ:NN)’s stock price 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 traded.

Specifically, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at $909,131. The trade was a 4.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mariam Sorond sold 62,868 shares of the 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 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 represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other NextNav news, CFO Christian D. Gates sold 5,730 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 857,206 shares in the company, valued at $9,634,995.44. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

NextNav Stock Up 0.3 %

The firm has a market capitalization of $1.56 billion, a PE ratio of -15.79 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 business’s 50-day moving average price is $11.78 and its 200-day moving average price is $12.01.

NextNav (NASDAQ:NN) last announced its quarterly 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 firm 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%. As a group, equities research analysts predict that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On NextNav

Institutional investors have recently bought and sold shares of the stock. Fleming James B JR bought a new stake in NextNav during the fourth quarter valued at about $80,618,000. Susquehanna Advisors Group Inc. bought a new stake in NextNav during the 4th quarter valued at approximately $67,648,000. Vanguard Group Inc. increased its position in NextNav by 23.3% in the 4th quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company’s stock worth $62,505,000 after buying an additional 759,775 shares during the period. Invesco Ltd. lifted its holdings in shares of NextNav by 2,461.2% during the fourth quarter. Invesco Ltd. now owns 712,385 shares of the company’s stock worth $11,085,000 after buying an additional 684,571 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of NextNav by 466.5% in the fourth quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock valued at $10,238,000 after acquiring an additional 541,842 shares during the period. 79.16% of the stock is currently owned by institutional investors.

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.