Insider Buying: NextNav Inc. (NASDAQ:NN) Director Buys $866,250.00 in Stock

NextNav Inc. (NASDAQ:NN) Director Neil S. Subin bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $866,250.00. Following the transaction, the director now directly owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NextNav Stock Up 4.6 %

NASDAQ NN opened at $7.52 on Friday. The stock has a market cap of $949.93 million, a PE ratio of -9.52 and a beta of 1.08. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. NextNav Inc. has a 12 month low of $3.55 and a 12 month high of $9.50. The stock’s 50 day moving average is $7.88 and its 200 day moving average is $7.11.

NextNav (NASDAQ:NN) last issued its earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.63 million. NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. During the same quarter in the prior year, the company posted ($0.15) EPS. Research analysts predict that NextNav Inc. will post -0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Spire Wealth Management lifted its position in shares of NextNav by 120.0% in the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after buying an additional 6,000 shares in the last quarter. nVerses Capital LLC bought a new stake in NextNav in the 2nd quarter worth approximately $50,000. Simplicity Wealth LLC purchased a new stake in shares of NextNav during the 1st quarter worth approximately $68,000. Jump Financial LLC bought a new position in shares of NextNav during the 4th quarter valued at approximately $73,000. Finally, Principal Financial Group Inc. purchased a new position in shares of NextNav in the second quarter valued at $82,000. 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.