NextNav (NASDAQ:NN) Stock Price Down 4.7% - Should You Sell?

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) dropped 4.7% on Thursday . The company traded as low as $12.04 and last traded at $12.07. Approximately 180,469 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,089,319 shares. The stock had previously closed at $12.67.

NextNav Stock Up 2.8%

The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -17.16 and a beta of 1.00. The business's fifty day moving average is $12.45 and its two-hundred day moving average is $13.00.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $1.54 million for the quarter, compared to analyst estimates of $1.87 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. Equities analysts forecast that NextNav Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at NextNav

In related news, CFO Christian D. Gates sold 5,730 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.24, for a total value of $64,405.20. Following the sale, the chief financial officer now directly owns 857,206 shares of the company's stock, valued at approximately $9,634,995.44. This represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sammaad Shams sold 4,005 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the sale, the chief accounting officer now directly owns 81,100 shares in the company, valued at approximately $909,131. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,705 shares of company stock worth $816,495. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NextNav

Several hedge funds have recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its holdings in shares of NextNav by 331.0% during 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. US Bancorp DE purchased a new stake in shares of NextNav during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. increased 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 worth $30,000 after buying an additional 1,018 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of NextNav in the 1st quarter valued at about $73,000. Finally, GAMMA Investing LLC raised its stake in shares of NextNav by 1,754.6% in the 1st 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 in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.