NextNav (NASDAQ:NN) Issues Quarterly Earnings Results

Key Points

• NextNav reported a quarterly loss of ($0.30) earnings per share, missing analysts' expectations of ($0.14) by ($0.16), along with revenues of $1.20 million versus a consensus of $1.59 million.
• The company's stock traded down $0.26 to hit $13.75, with a market capitalization of $1.82 billion and a negative PE ratio of -10.66.
• CEO Mariam Sorond sold 69,853 shares at an average price of $14.38, resulting in a 4.51% decrease in her ownership of the company.

NextNav (NASDAQ:NN - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.16), Zacks reports. The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.59 million. NextNav had a negative net margin of 2,678.59% and a negative return on equity of 556.83%.

NextNav Stock Performance

NN traded down $0.26 during midday trading on Friday, hitting $13.75. 1,726,797 shares of the company traded hands, compared to its average volume of 1,308,535. The company has a quick ratio of 16.75, a current ratio of 14.97 and a debt-to-equity ratio of 32.42. The company's 50-day moving average is $14.58 and its 200 day moving average is $12.95. NextNav has a 52 week low of $6.47 and a 52 week high of $18.54. The firm has a market capitalization of $1.82 billion, a PE ratio of -10.66 and a beta of 1.04.

Insider Buying and Selling

In related news, CEO Mariam Sorond sold 69,853 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was 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 directly owned 1,480,505 shares in the company, valued at approximately $21,289,661.90. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in NextNav by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company's stock worth $5,705,000 after acquiring an additional 120,123 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NextNav by 8.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company's stock worth $579,000 after purchasing an additional 3,543 shares during the period. Finally, Creative Planning boosted its stake in shares of NextNav by 81.5% during the second quarter. Creative Planning now owns 29,184 shares of the company's stock valued at $444,000 after purchasing an additional 13,109 shares in the last quarter. Hedge funds and other 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.

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