NextNav Target of Unusually High Options Trading (NASDAQ:NN)

Key Points

• Investors purchased an unusually large number of call options on NextNav — 60,130 call contracts were bought on Thursday, a 682% increase versus the average daily call volume of 7,686.
• Company insiders have been selling recently: CFO Timothy Gray sold 1,405 shares at $18.11 and CAO Sammaad Shams sold 3,945 shares at $19.54, with insiders offloading a total of 101,133 shares (about $1.73M) over the past three months while owning 7.70% of the stock.
• Analyst and market signals are mixed-to-negative — the consensus rating is "Reduce" after recent downgrades, while shares traded around $15 (12‑month range $10.84–$19.91) and the company has a ~$2.03 billion market cap and a negative P/E.

NextNav Inc. (NASDAQ:NN - Get Free Report) was the target of some unusual options trading on Thursday. Investors acquired 60,130 call options on the company. This is an increase of 682% compared to the average volume of 7,686 call options.

Insider Transactions at NextNav

In other news, CFO Timothy Gray sold 1,405 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $18.11, for a total value of $25,444.55. Following the transaction, the chief financial officer directly owned 131,786 shares of the company's stock, valued at approximately $2,386,644.46. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sammaad Shams sold 3,945 shares of the company's stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $19.54, for a total value of $77,085.30. Following the completion of the sale, the chief accounting officer owned 72,950 shares in the company, valued at $1,425,443. The trade was a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,133 shares of company stock valued at $1,733,594 over the last three months. Company insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On NextNav

Several institutional investors and hedge funds have recently added to or reduced their stakes in NN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NextNav by 8.1% during 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. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 120,123 shares during the period. Creative Planning increased its position in NextNav by 81.5% during the 2nd quarter. Creative Planning now owns 29,184 shares of the company's stock worth $444,000 after purchasing an additional 13,109 shares during the period. JPMorgan Chase & Co. increased its position in NextNav by 33.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 61,772 shares of the company's stock worth $939,000 after purchasing an additional 15,565 shares during the period. Finally, Legal & General Group Plc increased its position in NextNav by 23.3% during the 2nd quarter. Legal & General Group Plc now owns 68,946 shares of the company's stock worth $1,048,000 after purchasing an additional 13,027 shares during the period. Institutional investors and hedge funds own 79.16% of the company's stock.

NextNav Price Performance

Shares of NN traded up $0.41 during mid-day trading on Thursday, reaching $15.00. The company's stock had a trading volume of 760,810 shares, compared to its average volume of 1,357,974. NextNav has a 12-month low of $10.84 and a 12-month high of $19.91. The stock has a market cap of $2.03 billion, a PE ratio of -9.77 and a beta of 0.98. The company's 50 day moving average is $16.45 and its 200 day moving average is $15.26.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The firm had revenue of $0.95 million during the quarter, compared to analysts' expectations of $0.86 million. As a group, sell-side analysts anticipate that NextNav will post -0.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on NN shares. Wall Street Zen downgraded NextNav from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 21st. Weiss Ratings restated a "sell (d-)" rating on shares of NextNav in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce".

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.

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