NextNav (NASDAQ:NN) Stock Price Down 5.7% – Here’s What Happened

NextNav Inc. (NASDAQ:NN) shares traded down 5.7% during trading on Wednesday . The stock traded as low as $13.00 and last traded at $12.68. 124,891 shares changed hands during trading, a decline of 87% from the average session volume of 994,881 shares. The stock had previously closed at $13.44.

NextNav Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The firm has a market cap of $1.71 billion, a PE ratio of -17.33 and a beta of 1.17. The stock has a 50-day simple moving average of $11.79 and a two-hundred day simple moving average of $12.20.

NextNav (NASDAQ:NN) last announced 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). The company had revenue of $1.91 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at NextNav

In related news, CFO Christian D. Gates sold 5,730 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 857,206 shares of the company’s stock, valued at approximately $9,634,995.44. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mariam Sorond sold 62,868 shares of the business’s 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 owns 1,550,358 shares of the company’s stock, valued at $17,410,520.34. This trade represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,705 shares of company stock worth $816,495. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE purchased a new position in NextNav during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its position in shares of NextNav by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after purchasing an additional 1,018 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of NextNav during the 4th quarter valued at $78,000. FMR LLC boosted its holdings in NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after buying an additional 12,804 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in NextNav in the 3rd quarter worth $150,000. 79.16% of the stock is 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.