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

NextNav Inc. (NASDAQ:NN) was the target of unusually large options trading activity on Friday. Stock traders acquired 10,644 call options on the stock. This is an increase of 240% compared to the average volume of 3,135 call options.

NextNav Stock Down 1.3 %

Shares of NN stock traded down $0.14 during trading on Friday, hitting $11.06. 1,169,684 shares of the company were exchanged, compared to its average volume of 995,555. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -14.79 and a beta of 1.17. The business’s 50-day simple moving average is $12.00 and its 200 day simple moving average is $11.86. NextNav has a twelve month low of $3.95 and a twelve month high of $18.54.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $1.73 million. NextNav had a negative return on equity of 128.95% and a negative net margin of 1,732.92%. As a group, analysts forecast that NextNav will post -0.74 EPS for the current fiscal year.

Insider Transactions at NextNav

In other news, CFO Christian D. Gates sold 3,918 shares of NextNav stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total value of $69,152.70. Following the transaction, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Arun Raghupathy sold 3,332 shares of NextNav stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,908 shares of company stock valued at $141,851 over the last ninety days. Corporate insiders own 11.30% of the company’s stock.

Institutional Trading of NextNav

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new stake in NextNav in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. lifted its stake in NextNav by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after acquiring an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in NextNav in the fourth quarter valued at approximately $78,000. King Luther Capital Management Corp acquired a new stake in NextNav in the third quarter valued at approximately $90,000. Finally, FMR LLC lifted its stake in NextNav by 354.3% in the third quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after acquiring an additional 12,804 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, B. Riley raised their price target on shares of NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

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.