NextNav (NASDAQ:NN) Trading 7.9% Higher – Still a Buy?

NextNav Inc. (NASDAQ:NN) shares were up 7.9% during mid-day trading on Monday . The stock traded as high as $13.04 and last traded at $12.91. Approximately 759,864 shares changed hands during trading, a decline of 24% from the average daily volume of 994,756 shares. The stock had previously closed at $11.97.

NextNav Stock Up 6.6 %

The firm’s 50-day moving average price is $11.78 and its 200-day moving average price is $12.11. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -17.02 and a beta of 1.17.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The company had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million. Sell-side analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other news, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the sale, the chief accounting officer now directly owns 81,100 shares of the company’s stock, valued at approximately $909,131. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mariam Sorond sold 62,868 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 of the company’s stock, valued at $17,410,520.34. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,705 shares of company stock valued at $816,495 over the last 90 days. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of NextNav

Several institutional investors have recently added to or reduced their stakes in NN. US Bancorp DE acquired a new position in NextNav during the 4th quarter worth $28,000. Russell Investments Group Ltd. grew its stake in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after purchasing an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in NextNav in the fourth quarter worth about $78,000. King Luther Capital Management Corp bought a new stake in NextNav in the third quarter valued at about $90,000. Finally, FMR LLC raised its stake in NextNav by 354.3% during the third quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after buying an additional 12,804 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.