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

NextNav Inc. (NASDAQ:NN)’s stock price gapped down before the market opened 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 stock was sold at an average price of $11.21, for a total value of $44,896.05. Following the transaction, the chief accounting officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.23, for a total value of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares in the company, 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 other NextNav news, CFO Christian D. Gates sold 5,730 shares of NextNav stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the transaction, the chief financial officer now directly owns 857,206 shares of the company’s stock, valued at $9,634,995.44. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NextNav Stock Up 0.3 %

The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a 50 day simple moving average of $11.78 and a 200 day simple moving average of $12.01. The firm has a market capitalization of $1.56 billion, a PE ratio of -15.79 and a beta of 1.17.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). The business 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 forecast that NextNav Inc. will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On NextNav

Hedge funds have recently made changes to their positions in the company. US Bancorp DE bought a new stake in shares of NextNav during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. boosted its position in shares of NextNav by 112.5% during the fourth 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 in the last quarter. Golden State Wealth Management LLC bought a new stake in NextNav in the fourth quarter worth $78,000. Wharton Business Group LLC bought a new stake in NextNav in the fourth quarter worth $156,000. Finally, Mission Wealth Management LP bought a new stake in NextNav in the fourth quarter worth $156,000. 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.