NextNav (NASDAQ:NN) Stock Price Down 6.2%

NextNav Inc. (NASDAQ:NN) fell 6.2% during trading on Monday . The stock traded as low as $8.38 and last traded at $8.46. 441,178 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 907,453 shares. The stock had previously closed at $9.02.

NextNav Stock Down 2.4 %

The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $931.77 million, a PE ratio of -12.70 and a beta of 1.16. The company’s 50 day moving average is $6.79 and its two-hundred day moving average is $5.16.

NextNav (NASDAQ:NN) last posted its earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.19 million. NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. On average, analysts anticipate that NextNav Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other NextNav news, General Counsel Robert Lantz sold 8,776 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $37,122.48. Following the completion of the sale, the general counsel now directly owns 90,433 shares of the company’s stock, valued at approximately $382,531.59. The transaction was disclosed in a filing with the SEC, which is available through this link. In other NextNav news, CFO Christian D. Gates sold 29,208 shares of NextNav stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $123,549.84. Following the transaction, the chief financial officer now owns 849,816 shares in the company, valued at $3,594,721.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total transaction of $37,122.48. Following the completion of the transaction, the general counsel now directly owns 90,433 shares in the company, valued at approximately $382,531.59. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 583,000 shares of company stock valued at $2,633,160 and sold 75,000 shares valued at $317,250. 11.30% of the stock is owned by insiders.

Hedge Funds Weigh In On NextNav

Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System acquired a new stake in NextNav during the 4th quarter worth about $47,000. Spire Wealth Management raised its stake in shares of NextNav by 120.0% in the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after purchasing an additional 6,000 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of NextNav during the fourth quarter worth about $67,000. Simplicity Wealth LLC acquired a new position in NextNav during the first quarter valued at $68,000. Finally, Jump Financial LLC purchased a new stake in NextNav in the fourth quarter valued at $73,000. Institutional investors and hedge funds 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.