NextNav Inc. (NASDAQ:NN) Shares Acquired by Cannell & Spears LLC

Cannell & Spears LLC boosted its holdings in NextNav Inc. (NASDAQ:NN) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 157,048 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Cannell & Spears LLC’s holdings in NextNav were worth $2,444,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NN. JPMorgan Chase & Co. increased its position in shares of NextNav by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after purchasing an additional 616 shares in the last quarter. US Bancorp DE purchased a new position in NextNav during the 4th quarter worth approximately $28,000. Alliancebernstein L.P. increased its position in NextNav by 2.3% during the fourth quarter. Alliancebernstein L.P. now owns 87,760 shares of the company’s stock worth $1,366,000 after buying an additional 2,010 shares during the period. Arizona State Retirement System lifted its stake in NextNav by 18.7% in the fourth quarter. Arizona State Retirement System now owns 14,645 shares of the company’s stock valued at $228,000 after buying an additional 2,306 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of NextNav by 3.2% in the fourth quarter. Rhumbline Advisers now owns 99,516 shares of the company’s stock valued at $1,548,000 after acquiring an additional 3,075 shares during the period. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Stock Performance

Shares of NN opened at $12.17 on Tuesday. The company’s 50 day simple moving average is $11.77 and its 200-day simple moving average is $12.34. The firm has a market cap of $1.60 billion, a PE ratio of -16.23 and a beta of 1.17. NextNav Inc. has a 12-month low of $6.47 and a 12-month high of $18.54. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

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

Insider Activity at NextNav

In other NextNav news, CAO Sammaad Shams sold 4,005 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the transaction, the chief accounting officer now owns 81,100 shares in the company, valued at approximately $909,131. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mariam Sorond sold 62,868 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock worth $816,495 in the last quarter. Company insiders own 15.70% 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.