NextNav (NASDAQ:NN) Hits New 1-Year High at $9.50

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $9.50 and last traded at $9.39, with a volume of 96448 shares traded. The stock had previously closed at $9.39.

NextNav Stock Down 3.0 %

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -13.80 and a beta of 1.39. The stock has a 50 day moving average of $6.22 and a 200 day moving average of $5.00. The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60.

NextNav (NASDAQ:NN - Get Free Report) last issued its earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. The business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.19 million. As a group, analysts expect that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Sammaad Shams sold 13,469 shares of NextNav stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total transaction of $56,973.87. Following the sale, the chief accounting officer now owns 74,122 shares of the company's stock, valued at $313,536.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Joseph D. Samberg bought 483,000 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $4.52 per share, with a total value of $2,183,160.00. Following the completion of the acquisition, the insider now directly owns 9,800,000 shares in the company, valued at $44,296,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sammaad Shams sold 13,469 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $56,973.87. Following the sale, the chief accounting officer now directly owns 74,122 shares in the company, valued at approximately $313,536.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 583,000 shares of company stock valued at $2,633,160 and have sold 75,000 shares valued at $317,250. Corporate insiders own 11.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC grew its position in NextNav by 9.4% during the 1st quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company's stock worth $230,000 after purchasing an additional 3,000 shares in the last quarter. Spire Wealth Management grew its holdings in shares of NextNav by 120.0% during the 4th quarter. Spire Wealth Management now owns 11,000 shares of the company's stock valued at $49,000 after acquiring an additional 6,000 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of NextNav during the 1st quarter valued at $68,000. Arizona State Retirement System purchased a new position in shares of NextNav during the 4th quarter valued at $47,000. Finally, Kolinsky Wealth Management LLC grew its holdings in shares of NextNav by 64.3% during the 4th quarter. Kolinsky Wealth Management LLC now owns 30,363 shares of the company's stock valued at $135,000 after acquiring an additional 11,883 shares in the last quarter. Institutional investors and hedge funds own 79.16% 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.