NextNav (NASDAQ:NN) Reaches New 12-Month High – Time to Buy?

by · The Markets Daily

NextNav Inc. (NASDAQ:NN – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.35 and last traded at $12.34, with a volume of 636495 shares trading hands. The stock had previously closed at $11.95.

NextNav Stock Performance

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 stock has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $8.12.

NextNav (NASDAQ:NN – Get Free Report) last posted its earnings results 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). 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 period in the previous year, the business earned ($0.15) earnings per share. As a group, equities analysts expect that NextNav Inc. will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Neil S. Subin acquired 125,000 shares of the stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the acquisition, the director now directly owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Neil S. Subin purchased 100,000 shares of NextNav stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the completion of the purchase, the director now directly owns 2,365,213 shares of the company’s stock, valued at $16,367,273.96. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Neil S. Subin bought 125,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the completion of the purchase, the director now owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wolf Hill Capital Management LP bought a new stake in shares of NextNav during the 1st quarter valued at $12,195,000. Vanguard Group Inc. raised its holdings in NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after acquiring an additional 887,075 shares during the period. Empyrean Capital Partners LP lifted its position in shares of NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after acquiring an additional 238,845 shares in the last quarter. DigitalBridge Group Inc. bought a new position in shares of NextNav in the second quarter worth about $1,741,000. Finally, Marshall Wace LLP bought a new stake in NextNav during the 2nd quarter valued at approximately $1,571,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

About NextNav

(Get Free Report)

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.

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