NextNav (NASDAQ:NN) Major Shareholder Purchases $693,300.02 in Stock

NextNav Inc. (NASDAQ:NN) major shareholder Joseph Samberg bought 58,457 shares of the stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of $11.86 per share, for a total transaction of $693,300.02. Following the completion of the acquisition, the insider directly owned 9,745,600 shares of the company’s stock, valued at approximately $115,582,816. This trade represents a 0.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NextNav Price Performance

NASDAQ:NN traded up $1.00 during trading hours on Monday, reaching $12.96. 1,725,199 shares of the company were exchanged, compared to its average volume of 1,352,845. The business has a 50 day moving average of $13.87 and a 200 day moving average of $14.40. NextNav Inc. has a 1-year low of $9.05 and a 1-year high of $18.54. The company has a debt-to-equity ratio of 32.42, a current ratio of 11.53 and a quick ratio of 11.54. The company has a market capitalization of $1.75 billion, a P/E ratio of -9.97 and a beta of 0.99.

NextNav (NASDAQ:NN) last released its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%.The company had revenue of $0.89 million for the quarter, compared to analyst estimates of $1.13 million. Research analysts forecast that NextNav Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

NN has been the topic of several analyst reports. Zacks Research upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Wednesday, October 8th. Finally, Wall Street Zen cut NextNav from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Institutional Trading of NextNav

A number of hedge funds have recently added to or reduced their stakes in NN. AlphaQuest LLC bought a new stake in shares of NextNav during the second quarter worth $25,000. Clearstead Advisors LLC acquired a new stake in shares of NextNav during the 3rd quarter valued at $52,000. Harbor Investment Advisory LLC grew its position in NextNav by 71.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 3,685 shares of the company’s stock worth $56,000 after acquiring an additional 1,530 shares during the last quarter. FWL Investment Management LLC acquired a new position in NextNav in the 2nd quarter worth about $70,000. Finally, Harbor Capital Advisors Inc. raised its position in NextNav by 15.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,888 shares of the company’s stock valued at $105,000 after purchasing an additional 898 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.