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

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

NextNav Price Performance

The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. 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 firm has a 50-day simple moving average of $7.53 and a two-hundred day simple moving average of $7.84.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The business had revenue of $1.11 million for the quarter, compared to analyst estimates of $1.63 million. NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. During the same quarter last year, the business earned ($0.15) earnings per share. As a group, analysts predict that NextNav Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NN. Wolf Hill Capital Management LP acquired a new position in NextNav in the first quarter valued at approximately $12,195,000. Vanguard Group Inc. grew its stake in NextNav by 37.7% during the 1st quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after buying an additional 887,075 shares during the last quarter. Empyrean Capital Partners LP lifted its stake in NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after buying an additional 238,845 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in NextNav during the 2nd quarter worth $1,741,000. Finally, Marshall Wace LLP purchased a new stake in shares of NextNav in the second quarter valued at about $1,571,000. Hedge funds and other 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.