NextNav (NASDAQ:NN) Stock Price Up 7.9% – Time to Buy?

NextNav Inc. (NASDAQ:NN)’s share price shot up 7.9% during mid-day trading on Monday . The company traded as high as $13.04 and last traded at $12.91. 759,864 shares were traded during mid-day trading, a decline of 24% from the average session volume of 994,756 shares. The stock had previously closed at $11.97.

NextNav Stock Down 5.9 %

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 $1.66 billion, a P/E ratio of -16.86 and a beta of 1.17. The stock has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $12.19.

NextNav (NASDAQ:NN) last released 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. Research analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other NextNav news, CEO Mariam Sorond sold 62,868 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.23, for a total transaction of $706,007.64. Following the completion of the transaction, the chief executive officer now directly owns 1,550,358 shares of the company’s stock, valued at $17,410,520.34. The trade was a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sammaad Shams sold 4,005 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.21, for a total transaction of $44,896.05. Following the completion of the transaction, the chief accounting officer now owns 81,100 shares of the company’s stock, valued at approximately $909,131. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,705 shares of company stock valued at $816,495 over the last quarter. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. US Bancorp DE bought a new stake in NextNav during the 4th quarter valued at $28,000. Russell Investments Group Ltd. raised its stake in shares of NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock valued at $30,000 after purchasing an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in NextNav in the fourth quarter worth about $78,000. FMR LLC lifted its holdings in NextNav by 354.3% in the third quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after purchasing an additional 12,804 shares during the period. Finally, GSA Capital Partners LLP bought a new position in NextNav in the 3rd quarter valued at about $125,000. 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.