Torno Capital LLC Trims Stake in NextNav Inc. (NASDAQ:NN)

Torno Capital LLC lowered its stake in NextNav Inc. (NASDAQ:NN) by 44.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 167,500 shares of the company’s stock after selling 132,500 shares during the period. Torno Capital LLC owned 0.14% of NextNav worth $1,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of NextNav in the 2nd quarter worth approximately $50,000. Principal Financial Group Inc. purchased a new stake in shares of NextNav in the 2nd quarter worth approximately $82,000. Quest Partners LLC purchased a new stake in shares of NextNav in the 2nd quarter worth approximately $88,000. Wolverine Asset Management LLC grew its stake in shares of NextNav by 323.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after buying an additional 9,248 shares during the last quarter. Finally, Jump Financial LLC bought a new position in NextNav in the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Stock Performance

NN stock opened at $6.99 on Tuesday. The stock has a market capitalization of $855.81 million, a PE ratio of -8.85 and a beta of 1.06. NextNav Inc. has a 12-month low of $3.55 and a 12-month high of $9.50. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $7.56.

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

Insider Activity at NextNav

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

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.