NextNav (NASDAQ:NN) Stock Price Down 5.3% - Should You Sell?

NextNav Inc. (NASDAQ:NN - Get Free Report)'s stock price dropped 5.3% during trading on Wednesday . The company traded as low as $15.11 and last traded at $15.32. Approximately 734,722 shares were traded during trading, a decline of 37% from the average daily volume of 1,158,414 shares. The stock had previously closed at $16.17.

NextNav Trading Down 4.1%

The company has a quick ratio of 16.75, a current ratio of 16.75 and a debt-to-equity ratio of 32.42. The stock has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $12.81. The firm has a market capitalization of $1.93 billion, a P/E ratio of -14.29 and a beta of 1.05.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The firm had revenue of $1.54 million for the quarter, compared to analysts' expectations of $1.87 million. NextNav had a negative net margin of 2,091.01% and a negative return on equity of 193.20%. As a group, research analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $14.38, for a total value of $1,004,486.14. Following the completion of the sale, the chief executive officer owned 1,480,505 shares of the company's stock, valued at $21,289,661.90. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.70% of the company's stock.

Institutional Trading of NextNav

Several institutional investors and hedge funds have recently modified their holdings of NN. Harbor Capital Advisors Inc. raised its stake in NextNav by 15.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company's stock worth $105,000 after buying an additional 898 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of NextNav by 71.0% during the second quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company's stock valued at $56,000 after buying an additional 1,530 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NextNav by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company's stock valued at $5,705,000 after buying an additional 120,123 shares during the last quarter. Rhumbline Advisers boosted its holdings in NextNav by 6.4% in the first quarter. Rhumbline Advisers now owns 105,929 shares of the company's stock valued at $1,289,000 after purchasing an additional 6,413 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NextNav by 8.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company's stock valued at $579,000 after purchasing an additional 3,543 shares during the last quarter. 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.