NextNav (NASDAQ:NN) Stock Price Up 5.3%

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price shot up 5.3% on Thursday . The company traded as high as $8.22 and last traded at $8.20. 363,156 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 916,685 shares. The stock had previously closed at $7.79.

NextNav Stock Up 3.7 %

The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The company has a market cap of $909.43 million, a price-to-earnings ratio of -12.24 and a beta of 1.40. The business has a 50-day simple moving average of $5.42 and a two-hundred day simple moving average of $4.76.

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). The company had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million. NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. As a group, equities analysts forecast that NextNav Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NextNav news, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $37,122.48. Following the sale, the general counsel now owns 90,433 shares of the company's stock, valued at approximately $382,531.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NextNav news, major shareholder Joseph D. Samberg purchased 150,000 shares of NextNav stock in a transaction that occurred on Friday, January 19th. The stock was acquired at an average price of $3.86 per share, for a total transaction of $579,000.00. Following the completion of the acquisition, the insider now owns 9,350,000 shares of the company's stock, valued at approximately $36,091,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Robert Lantz sold 8,776 shares of NextNav stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.23, for a total value of $37,122.48. Following the transaction, the general counsel now owns 90,433 shares of the company's stock, valued at approximately $382,531.59. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 883,000 shares of company stock valued at $3,806,160 and have sold 76,002 shares valued at $321,398. 11.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextNav

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of NextNav by 173.3% during the first quarter. BlackRock Inc. now owns 3,329 shares of the company's stock worth $25,000 after acquiring an additional 2,111 shares during the period. Citigroup Inc. acquired a new stake in shares of NextNav in the first quarter valued at approximately $26,000. UBS Group AG raised its position in shares of NextNav by 189.9% in the first quarter. UBS Group AG now owns 4,691 shares of the company's stock valued at $35,000 after buying an additional 3,073 shares in the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of NextNav in the first quarter valued at approximately $76,000. Finally, Arizona State Retirement System acquired a new stake in shares of NextNav in the fourth quarter valued at approximately $47,000. Institutional investors own 79.16% of the company's stock.

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.