Squarepoint Ops LLC Invests $2.32 Million in NextNav Inc. (NASDAQ:NN)

Squarepoint Ops LLC purchased a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 148,823 shares of the company's stock, valued at approximately $2,316,000. Squarepoint Ops LLC owned approximately 0.11% of NextNav as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NN. Fleming James B JR bought a new position in shares of NextNav during the fourth quarter valued at approximately $80,618,000. Susquehanna Advisors Group Inc. purchased a new position in NextNav during the fourth quarter valued at $67,648,000. Vanguard Group Inc. boosted its holdings in NextNav by 23.3% in the fourth quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company's stock worth $62,505,000 after acquiring an additional 759,775 shares in the last quarter. Invesco Ltd. grew its stake in shares of NextNav by 2,461.2% in the fourth quarter. Invesco Ltd. now owns 712,385 shares of the company's stock worth $11,085,000 after acquiring an additional 684,571 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of NextNav by 14.9% in the fourth quarter. Ancora Advisors LLC now owns 2,016,250 shares of the company's stock worth $31,373,000 after acquiring an additional 261,000 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Up 2.2%

Shares of NN traded up $0.27 during trading hours on Friday, hitting $12.66. The company had a trading volume of 2,050,941 shares, compared to its average volume of 1,073,008. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -16.88 and a beta of 1.03. The firm has a fifty day moving average price of $12.50 and a 200-day moving average price of $13.24. NextNav Inc. has a 52-week low of $6.47 and a 52-week high of $18.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

NextNav (NASDAQ:NN - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $1.54 million during the quarter, compared to analysts' expectations of $1.87 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. On average, equities research analysts forecast that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christian D. Gates sold 5,730 shares of the firm'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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sammaad Shams sold 4,005 shares of the company's stock in a transaction on 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 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 worth $816,495 in the last three months. Insiders own 7.70% of the company's stock.

NextNav Company Profile

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.