NextNav (NASDAQ:NN) Reaches New 1-Year High – Here’s What Happened

Shares of NextNav Inc. (NASDAQ:NN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.64 and last traded at $9.63, with a volume of 180982 shares traded. The stock had previously closed at $9.43.

NextNav Price Performance

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -11.09 and a beta of 1.06. The company has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $7.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93.

NextNav (NASDAQ:NN) last released its earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The business had revenue of $1.11 million for the quarter, compared to analysts’ expectations 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 last year, the company posted ($0.15) earnings per share. As a group, research analysts anticipate that NextNav Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling at NextNav

In other NextNav news, Director Neil S. Subin acquired 100,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the purchase, the director now directly owns 2,365,213 shares in the company, valued at $16,367,273.96. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Neil S. Subin bought 125,000 shares of NextNav stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now directly owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Neil S. Subin acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the acquisition, the director now directly owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NN. SG Americas Securities LLC bought a new position in NextNav during the 3rd quarter valued at $205,000. Aristides Capital LLC bought a new position in NextNav during the second quarter valued at about $205,000. Kitching Partners LLC acquired a new position in NextNav during the second quarter worth about $326,000. The Manufacturers Life Insurance Company raised its position in NextNav by 39.6% in the second quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock worth $242,000 after acquiring an additional 8,466 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in NextNav in the 2nd quarter valued at about $1,741,000. Institutional investors and hedge funds 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.