Voleon Capital Management LP Buys New Shares in NextNav Inc. (NASDAQ:NN)

Voleon Capital Management LP acquired a new stake in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 20,875 shares of the company's stock, valued at approximately $325,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NN. Oppenheimer & Co. Inc. boosted its stake in shares of NextNav by 170.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 27,000 shares of the company's stock worth $420,000 after acquiring an additional 17,000 shares in the last quarter. Commonwealth Equity Services LLC grew its position in NextNav by 1,580.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 216,625 shares of the company's stock worth $3,371,000 after purchasing an additional 203,734 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NextNav by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,254 shares of the company's stock valued at $8,967,000 after purchasing an additional 29,448 shares during the period. Rhumbline Advisers increased its stake in shares of NextNav by 3.2% in the fourth quarter. Rhumbline Advisers now owns 99,516 shares of the company's stock worth $1,548,000 after acquiring an additional 3,075 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 acquiring an additional 39,543 shares in the last quarter. Institutional investors own 79.16% of the company's stock.

NextNav Stock Performance

NextNav stock traded up $0.54 during trading hours on Wednesday, reaching $13.76. 607,889 shares of the company were exchanged, compared to its average volume of 1,047,873. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $11.81 and a 200 day moving average of $13.13. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -18.28 and a beta of 1.03.

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

Insider Transactions at NextNav

In other NextNav news, 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 sale, the chief accounting officer now owns 81,100 shares of the company's stock, valued at $909,131. This represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christian D. Gates sold 5,730 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $9,634,995.44. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,705 shares of company stock valued at $816,495. 7.70% of the stock is owned by corporate insiders.

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.