NextNav Inc. (NASDAQ:NN) Director Buys $692,000.00 in Stock

NextNav Inc. (NASDAQ:NN) Director Neil S. Subin bought 100,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price 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 in the company, valued at approximately $16,367,273.96. The transaction was disclosed in a filing with the SEC, which is available through this link.

NextNav Stock Up 4.6 %

NN stock opened at $7.52 on Friday. The stock has a market capitalization of $949.93 million, a price-to-earnings ratio of -9.52 and a beta of 1.08. The company has a 50-day moving average of $7.88 and a two-hundred day moving average of $7.11. NextNav Inc. has a 52-week low of $3.55 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93.

NextNav (NASDAQ:NN) last announced its earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The business had revenue of $1.11 million for 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 quarter in the previous year, the company earned ($0.15) EPS. As a group, equities research analysts anticipate that NextNav Inc. will post -0.81 EPS for the current year.

Institutional Investors Weigh In On NextNav

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aristides Capital LLC acquired a new position in shares of NextNav during the second quarter valued at about $205,000. Kitching Partners LLC bought a new position in NextNav during the second quarter worth about $326,000. The Manufacturers Life Insurance Company lifted its stake in NextNav by 39.6% during the second quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock worth $242,000 after purchasing an additional 8,466 shares during the period. DigitalBridge Group Inc. acquired a new stake in NextNav during the second quarter valued at approximately $1,741,000. Finally, Empyrean Capital Partners LP grew its stake in shares of NextNav by 56.6% in the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after purchasing an additional 238,845 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.