NextNav (NASDAQ:NN) Shares Gap Up Following Insider Buying Activity

NextNav Inc. (NASDAQ:NN)’s share price gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $7.88, but opened at $8.51. NextNav shares last traded at $8.35, with a volume of 74,285 shares.

Specifically, CFO Christian D. Gates sold 4,049 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $7.27, for a total value of $29,436.23. Following the transaction, the chief financial officer now directly owns 820,936 shares of the company’s stock, valued at approximately $5,968,204.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Christian D. Gates sold 4,049 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $7.27, for a total value of $29,436.23. Following the completion of the sale, the chief financial officer now directly owns 820,936 shares in the company, valued at approximately $5,968,204.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sammaad Shams sold 3,769 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $7.64, for a total value of $28,795.16. Following the completion of the sale, the chief accounting officer now owns 70,237 shares of the company’s stock, valued at $536,610.68. The disclosure for this sale can be found here. In the last three months, insiders have acquired 369,439 shares of company stock valued at $2,768,533 and have sold 36,758 shares valued at $278,309. 11.30% of the stock is currently owned by corporate insiders.

NextNav Stock Up 4.3 %

The firm has a market capitalization of $1.01 billion, a P/E ratio of -9.97 and a beta of 1.08. The stock has a fifty day moving average price of $7.99 and a two-hundred day moving average price of $5.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.01 and a current ratio of 4.01.

NextNav (NASDAQ:NN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The company had revenue of $1.05 million for the quarter, compared to the consensus estimate of $1.23 million. NextNav had a negative return on equity of 109.93% and a negative net margin of 2,133.30%. Research analysts forecast that NextNav Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wolf Hill Capital Management LP acquired a new position in NextNav during the 1st quarter worth $12,195,000. Vanguard Group Inc. lifted its holdings in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after buying an additional 887,075 shares during the period. General American Investors Co. Inc. lifted its holdings in shares of NextNav by 33.2% in the fourth quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock valued at $7,418,000 after buying an additional 415,554 shares during the period. Ancora Advisors LLC acquired a new stake in shares of NextNav in the third quarter valued at $495,000. Finally, Swiss National Bank purchased a new stake in shares of NextNav during the fourth quarter valued at $335,000. 79.16% of the stock is currently owned by institutional investors.

NextNav Company Profile

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.