NextNav Sees Unusually High Options Volume (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw unusually large options trading on Tuesday. Traders acquired 44,566 call options on the company. This represents an increase of approximately 545% compared to the average daily volume of 6,908 call options.

Wall Street Analysts Forecast Growth

Several analysts have commented on NN shares. Wall Street Zen lowered shares of NextNav from a “hold” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

NextNav Stock Performance

Shares of NASDAQ NN traded down $0.20 during mid-day trading on Tuesday, hitting $18.48. The stock had a trading volume of 641,609 shares, compared to its average volume of 1,296,798. The firm has a market cap of $2.51 billion, a PE ratio of -12.04 and a beta of 0.96. The company has a 50 day moving average of $16.17 and a two-hundred day moving average of $15.26. NextNav has a twelve month low of $10.64 and a twelve month high of $19.91.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $0.95 million for the quarter, compared to the consensus estimate of $0.86 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 4,503.43%. Equities research analysts predict that NextNav will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Sammaad Shams sold 1,767 shares of NextNav stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.11, for a total value of $32,000.37. Following the transaction, the chief accounting officer directly owned 76,895 shares in the company, valued at approximately $1,392,568.45. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Gray sold 1,405 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.11, for a total value of $25,444.55. Following the completion of the transaction, the chief financial officer directly owned 131,786 shares of the company’s stock, valued at approximately $2,386,644.46. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,188 shares of company stock worth $1,656,508 over the last quarter. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of NextNav by 347.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after purchasing an additional 1,721 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in NextNav during the third quarter worth $52,000. FWL Investment Management LLC purchased a new stake in NextNav during the second quarter worth $70,000. Kemnay Advisory Services Inc. acquired a new stake in NextNav during the fourth quarter valued at $97,000. Finally, Osterweis Capital Management Inc. acquired a new stake in NextNav during the fourth quarter valued at $109,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Company Profile

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.