NextNav (NASDAQ:NN) Stock Price Up 5.3%

NextNav Inc. (NASDAQ:NN)’s share price rose 5.3% during trading on Thursday . The company traded as high as $8.22 and last traded at $8.20. Approximately 363,156 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 916,685 shares. The stock had previously closed at $7.79.

NextNav Stock Up 3.7 %

The business’s 50 day simple moving average is $5.42 and its 200-day simple moving average is $4.76. The company has a market cap of $909.43 million, a price-to-earnings ratio of -11.80 and a beta of 1.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.31 and a current ratio of 9.31.

NextNav (NASDAQ:NN) last issued its earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $1.21 million for the quarter, compared to analyst estimates of $1.19 million. NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. Sell-side analysts expect that NextNav Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling at NextNav

In other NextNav news, major shareholder Joseph D. Samberg acquired 150,000 shares of NextNav stock in a transaction that occurred on Friday, January 19th. The stock was acquired at an average price of $3.86 per share, with a total value of $579,000.00. Following the purchase, the insider now owns 9,350,000 shares in the company, valued at $36,091,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NextNav news, major shareholder Joseph D. Samberg acquired 150,000 shares of NextNav stock in a transaction that occurred on Friday, January 19th. The stock was acquired at an average price of $3.86 per share, with a total value of $579,000.00. Following the purchase, the insider now owns 9,350,000 shares in the company, valued at $36,091,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sammaad Shams sold 13,469 shares of NextNav stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the completion of the sale, the chief accounting officer now directly owns 74,122 shares of the company’s stock, valued at approximately $313,536.06. The disclosure for this sale can be found here. In the last quarter, insiders purchased 883,000 shares of company stock valued at $3,806,160 and sold 76,002 shares valued at $321,398. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. General American Investors Co. Inc. raised its holdings in NextNav by 55.9% in the 3rd quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company’s stock worth $6,432,000 after acquiring an additional 448,884 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in NextNav in the 3rd quarter worth $156,000. Kolinsky Wealth Management LLC bought a new position in NextNav in the 3rd quarter worth $95,000. Bank of New York Mellon Corp raised its holdings in NextNav by 8.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 162,405 shares of the company’s stock worth $835,000 after acquiring an additional 13,280 shares during the period. Finally, Ancora Advisors LLC bought a new position in NextNav in the 3rd quarter worth $495,000. Institutional investors 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.