NextNav (NASDAQ:NN) Stock Price Down 5.1%

NextNav Inc. (NASDAQ:NN) traded down 5.1% during mid-day trading on Monday . The company traded as low as $5.52 and last traded at $5.60. 354,929 shares were traded during trading, a decline of 5% from the average session volume of 374,079 shares. The stock had previously closed at $5.90.

NextNav Trading Down 6.1 %

The company has a 50 day simple moving average of $3.86 and a 200 day simple moving average of $2.91. The stock has a market capitalization of $599.54 million, a PE ratio of -9.10 and a beta of 1.70. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 0.36.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). NextNav had a negative return on equity of 67.56% and a negative net margin of 2,157.73%. The company had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.99 million. Analysts predict that NextNav Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Christian D. Gates sold 37,377 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $4.08, for a total value of $152,498.16. Following the sale, the chief financial officer now directly owns 774,424 shares of the company’s stock, valued at approximately $3,159,649.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 42,686 shares of company stock valued at $174,033. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On NextNav

A number of large investors have recently bought and sold shares of NN. Simplicity Solutions LLC acquired a new stake in NextNav in the 1st quarter valued at $25,000. BlackRock Inc. grew its position in NextNav by 173.3% in the first quarter. BlackRock Inc. now owns 3,329 shares of the company’s stock valued at $25,000 after acquiring an additional 2,111 shares in the last quarter. Verition Fund Management LLC acquired a new position in NextNav in the 2nd quarter worth $25,000. Citigroup Inc. purchased a new stake in shares of NextNav during the first quarter worth about $26,000. Finally, Legal & General Group Plc purchased a new position in NextNav in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 68.09% of the company’s stock.

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, which is based on three primary components comprising an altitude station network, device software, and secure cloud services platform.