NextNav (NASDAQ:NN) Trading 5.7% Higher - Time to Buy?

NextNav Inc. (NASDAQ:NN - Get Free Report) rose 5.7% during mid-day trading on Tuesday . The company traded as high as $12.97 and last traded at $12.95. Approximately 631,117 shares changed hands during trading, a decline of 53% from the average daily volume of 1,352,676 shares. The stock had previously closed at $12.25.

NextNav Trading Up 3.4 %

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 firm has a market cap of $1.75 billion, a P/E ratio of -17.60 and a beta of 1.03. The firm's 50-day simple moving average is $11.70 and its 200 day simple moving average is $13.07.

NextNav (NASDAQ:NN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.10). NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. As a group, analysts expect that NextNav Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares in the company, valued at $17,410,520.34. This represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sammaad Shams sold 4,005 shares of NextNav stock in a transaction on Monday, March 17th. The shares were sold at an average price of $11.21, for a total value of $44,896.05. Following the completion of the transaction, the chief accounting officer now owns 81,100 shares of the company's stock, valued at approximately $909,131. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock valued at $816,495 in the last 90 days. Insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On NextNav

A number of institutional investors and hedge funds have recently modified their holdings of NN. Harbor Investment Advisory LLC grew its position in NextNav by 331.0% during the first quarter. Harbor Investment Advisory LLC now owns 2,155 shares of the company's stock worth $26,000 after buying an additional 1,655 shares in the last quarter. US Bancorp DE bought a new stake in shares of NextNav during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. grew its holdings in shares of NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of NextNav in the first quarter worth approximately $73,000. Finally, Golden State Wealth Management LLC bought a new position in shares of NextNav in the fourth quarter worth approximately $78,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.