NextNav (NASDAQ:NN) Shares Gap Down – What’s Next?

NextNav Inc. (NASDAQ:NN)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $12.17, but opened at $11.91. NextNav shares last traded at $11.94, with a volume of 214,753 shares traded.

NextNav Stock Up 4.4 %

The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -17.09 and a beta of 1.17. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $11.73 and its two-hundred day moving average is $12.38.

NextNav (NASDAQ:NN) last announced 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). The firm had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. On average, sell-side analysts predict that NextNav Inc. will post -0.74 EPS for the current year.

Insider Activity

In related news, CEO Mariam Sorond sold 62,868 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.23, for a total value of $706,007.64. Following the transaction, the chief executive officer now directly owns 1,550,358 shares of the company’s stock, valued at approximately $17,410,520.34. This trade represents a 3.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sammaad Shams sold 4,005 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.21, for a total value 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. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock valued at $816,495 over the last quarter. Company insiders own 15.70% of the company’s stock.

Institutional Trading of NextNav

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in NextNav by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock valued at $244,000 after purchasing an additional 616 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of 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 buying an additional 1,018 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of NextNav by 5.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 30,753 shares of the company’s stock valued at $479,000 after buying an additional 1,563 shares in the last quarter. US Bancorp DE purchased a new stake in shares of NextNav during the 4th quarter valued at about $28,000. Finally, Alliancebernstein L.P. lifted its position in NextNav by 2.3% during the 4th quarter. Alliancebernstein L.P. now owns 87,760 shares of the company’s stock worth $1,366,000 after acquiring an additional 2,010 shares in the last quarter. 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.