NextNav Inc. (NASDAQ:NN) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC lifted its position in NextNav Inc. (NASDAQ:NN - Free Report) by 466.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 657,996 shares of the company's stock after purchasing an additional 541,842 shares during the quarter. Voloridge Investment Management LLC owned about 0.50% of NextNav worth $10,238,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NN. US Bancorp DE purchased a new stake in shares of NextNav during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. raised its position in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of NextNav during the 4th quarter worth approximately $78,000. Mission Wealth Management LP bought a new stake in shares of NextNav during the fourth quarter worth $156,000. Finally, Wharton Business Group LLC purchased a new stake in NextNav in the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 79.16% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction 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. The trade was a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mariam Sorond sold 62,868 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares of the company's stock, valued at $17,410,520.34. The trade was a 3.90% 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 valued at $816,495 over the last three months. 7.70% of the stock is owned by company insiders.

NextNav Trading Down 3.4%

NASDAQ:NN traded down $0.45 during midday trading on Wednesday, hitting $12.76. The stock had a trading volume of 756,017 shares, compared to its average volume of 1,067,947. The stock has a 50-day moving average of $12.52 and a 200 day moving average of $13.28. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -17.01 and a beta of 1.03. NextNav Inc. has a one year low of $6.47 and a one year high of $18.54. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

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 analysts' consensus estimates of ($0.14) by ($0.01). The firm had revenue of $1.54 million for the quarter, compared to the consensus estimate of $1.87 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. As a group, sell-side analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

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.