Federated Hermes Inc. Invests $3.74 Million in NextNav Inc. (NASDAQ:NN)

Federated Hermes Inc. purchased a new position in NextNav Inc. (NASDAQ:NN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 240,484 shares of the company's stock, valued at approximately $3,742,000. Federated Hermes Inc. owned about 0.18% of NextNav as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE purchased a new position in NextNav during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. increased its stake in shares of NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock valued at $30,000 after buying an additional 1,018 shares during the period. Golden State Wealth Management LLC bought a new position in shares of NextNav during the fourth quarter valued at approximately $78,000. FMR LLC lifted its stake in NextNav by 354.3% in the third quarter. FMR LLC now owns 16,418 shares of the company's stock worth $123,000 after acquiring an additional 12,804 shares during the period. Finally, Wharton Business Group LLC purchased a new stake in NextNav in the fourth quarter worth $156,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

NextNav Trading Down 1.1 %

NASDAQ NN traded down $0.13 during trading on Friday, hitting $11.81. The company had a trading volume of 764,482 shares, compared to its average volume of 1,047,232. The company's fifty day moving average is $11.70 and its 200-day moving average is $12.71. NextNav Inc. has a one year low of $6.47 and a one year 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. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -15.75 and a beta of 1.03.

NextNav (NASDAQ:NN - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.10). The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. On average, sell-side analysts predict that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In related news, CAO Sammaad Shams sold 4,005 shares of the firm'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 completion of the transaction, the chief accounting officer now owns 81,100 shares of the company's stock, valued at $909,131. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christian D. Gates sold 5,730 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the sale, the chief financial officer now directly owns 857,206 shares in the company, valued at $9,634,995.44. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock worth $816,495 in the last quarter. 15.70% of the stock is owned by company insiders.

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.