NextNav Inc. (NASDAQ:NN – Get Free Report) saw unusually large options trading activity on Wednesday. Traders bought 37,942 call options on the stock. This is an increase of 134% compared to the average daily volume of 16,199 call options.
NextNav Stock Performance
Shares of NN stock traded down $0.36 during trading hours on Wednesday, reaching $14.94. The company had a trading volume of 2,328,467 shares, compared to its average volume of 2,043,582. NextNav has a 12-month low of $10.87 and a 12-month high of $24.42. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -12.24 and a beta of 1.06. The stock has a fifty day moving average of $19.53 and a 200-day moving average of $17.63.
NextNav (NASDAQ:NN – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.94 million. On average, analysts forecast that NextNav will post -0.48 EPS for the current year.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on NN
Insider Buying and Selling
In related news, CEO Mariam Sorond sold 69,853 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $19.92, for a total transaction of $1,391,471.76. Following the transaction, the chief executive officer directly owned 1,244,495 shares in the company, valued at approximately $24,790,340.40. This represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sammaad Shams sold 2,006 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $17.84, for a total value of $35,787.04. Following the transaction, the chief accounting officer directly owned 70,944 shares in the company, valued at approximately $1,265,640.96. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 76,567 shares of company stock valued at $1,522,252. Company insiders own 7.80% of the company’s stock.
Institutional Investors Weigh In On NextNav
Large investors have recently bought and sold shares of the stock. Grove Bank & Trust purchased a new stake in shares of NextNav during the second quarter worth approximately $53,000. Bank of America Corp DE lifted its position in NextNav by 1.2% in the first quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock valued at $4,165,000 after acquiring an additional 3,028 shares during the last quarter. Amundi lifted its holdings in shares of NextNav by 7.5% in the 1st quarter. Amundi now owns 43,703 shares of the company’s stock valued at $700,000 after purchasing an additional 3,043 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of NextNav by 41.6% in the first quarter. California State Teachers Retirement System now owns 97,347 shares of the company’s stock valued at $1,559,000 after acquiring an additional 28,584 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in NextNav during the 1st quarter worth $364,000. Hedge funds and other institutional investors 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.
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