NextNav (NASDAQ:NN) Trading Down 4.7% - What's Next?

NextNav Inc. (NASDAQ:NN - Get Free Report)'s share price 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 1.5%

The firm has a market cap of $1.68 billion, a P/E ratio of -16.96 and a beta of 1.00. The stock's fifty day moving average is $12.41 and its two-hundred day moving average is $13.05. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

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

Insider Activity at NextNav

In related news, CFO Christian D. Gates sold 5,730 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.24, for a total transaction of $64,405.20. Following the completion of the sale, the chief financial officer now directly owns 857,206 shares in the company, valued at $9,634,995.44. This represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mariam Sorond sold 62,868 shares of the business's stock in a transaction dated 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 owns 1,550,358 shares in the company, valued at $17,410,520.34. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,705 shares of company stock valued at $816,495. Insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NN. Fleming James B JR purchased a new stake in NextNav in the fourth quarter worth about $80,618,000. Vanguard Group Inc. lifted its stake in shares of NextNav by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 4,732,231 shares of the company's stock valued at $57,591,000 after purchasing an additional 715,171 shares during the period. Susquehanna Advisors Group Inc. purchased a new stake in NextNav in the fourth quarter worth $67,648,000. Ancora Advisors LLC raised its holdings in NextNav by 11.0% in the first quarter. Ancora Advisors LLC now owns 2,237,736 shares of the company's stock worth $27,233,000 after purchasing an additional 221,486 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in NextNav by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,731,051 shares of the company's stock valued at $26,941,000 after buying an additional 39,543 shares during the period. Hedge funds and other institutional investors 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.