NextNav (NASDAQ:NN) Stock Price Down 6.1%

NextNav Inc. (NASDAQ:NN) shares traded down 6.1% during mid-day trading on Monday . The stock traded as low as $7.22 and last traded at $7.22. 155,981 shares traded hands during trading, a decline of 82% from the average session volume of 847,652 shares. The stock had previously closed at $7.69.

NextNav Price Performance

The stock has a market capitalization of $853.36 million, a P/E ratio of -9.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93. The business’s 50 day moving average price is $7.67 and its 200 day moving average price is $7.54.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07). NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.63 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Sell-side analysts forecast that NextNav Inc. will post -0.81 EPS for the current year.

Insider Buying and Selling at NextNav

In related news, Director Neil S. Subin acquired 125,000 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now directly owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Neil S. Subin bought 100,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the purchase, the director now directly owns 2,365,213 shares of the company’s stock, valued at $16,367,273.96. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Neil S. Subin purchased 125,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now directly owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. The disclosure for this purchase can be found here. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in NextNav in the second quarter worth about $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the second quarter worth $82,000. Quest Partners LLC purchased a new stake in shares of NextNav during the second quarter valued at $88,000. Wolverine Asset Management LLC lifted its position in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after purchasing an additional 9,248 shares during the period. Finally, Jump Financial LLC purchased a new stake in NextNav during the fourth quarter worth $73,000. 79.16% of the stock is owned by 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.