Greenhaven Road Investment Management L.P. Purchases New Shares in NextNav Inc. (NASDAQ:NN)

Greenhaven Road Investment Management L.P. bought a new stake in NextNav Inc. (NASDAQ:NN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 60,000 shares of the company's stock, valued at approximately $730,000. NextNav comprises about 0.3% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its 14th largest position.

Other hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its stake in shares of NextNav by 331.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock worth $26,000 after acquiring an additional 1,655 shares during the period. Russell Investments Group Ltd. lifted its stake 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 valued at $30,000 after purchasing an additional 1,018 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of NextNav in the first quarter valued at about $73,000. GAMMA Investing LLC lifted its stake in shares of NextNav by 1,754.6% in the first quarter. GAMMA Investing LLC now owns 10,052 shares of the company's stock valued at $122,000 after purchasing an additional 9,510 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of NextNav by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 10,000 shares of the company's stock valued at $122,000 after purchasing an additional 5,000 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Trading Up 1.9%

Shares of NASDAQ:NN traded up $0.29 during trading on Tuesday, reaching $15.22. The stock had a trading volume of 502,892 shares, compared to its average volume of 1,179,010. The business has a fifty day moving average price of $14.00 and a 200-day moving average price of $12.75. The company has a quick ratio of 16.75, a current ratio of 16.75 and a debt-to-equity ratio of 32.42. The stock has a market cap of $2.01 billion, a P/E ratio of -14.94 and a beta of 1.05. NextNav Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $18.54.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly 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 company had revenue of $1.54 million during the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative net margin of 2,091.01% and a negative return on equity of 193.20%. As a group, analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other news, CEO Mariam Sorond sold 69,853 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $14.38, for a total transaction of $1,004,486.14. Following the completion of the transaction, the chief executive officer owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.70% of the company's stock.

NextNav 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.