NextNav Target of Unusually High Options Trading (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the target of unusually large options trading activity on Friday. Stock investors acquired 10,644 call options on the company. This represents an increase of 240% compared to the average daily volume of 3,135 call options.

NextNav Stock Performance

NextNav stock traded down $0.14 on Friday, hitting $11.06. The company’s stock had a trading volume of 1,169,684 shares, compared to its average volume of 995,555. The firm has a market cap of $1.44 billion, a P/E ratio of -14.79 and a beta of 1.17. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average price of $12.00 and a 200-day moving average price of $11.86. NextNav has a one year low of $3.95 and a one year high of $18.54.

NextNav (NASDAQ:NN) last announced its quarterly earnings results on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The business had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. On average, equities analysts anticipate that NextNav will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their price target on shares of NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

Insider Transactions at NextNav

In related news, CFO Christian D. Gates sold 3,918 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total transaction of $69,152.70. Following the transaction, the chief financial officer now owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at $19,914,188.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,908 shares of company stock worth $141,851. 11.30% of the stock is owned by insiders.

Institutional Investors Weigh In On NextNav

Large investors have recently made changes to their positions in the company. US Bancorp DE bought a new stake in shares of NextNav in the 4th quarter worth about $28,000. Russell Investments Group Ltd. grew its holdings in shares of NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after purchasing an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of NextNav in the 4th quarter worth about $78,000. King Luther Capital Management Corp bought a new stake in shares of NextNav in the 3rd quarter worth about $90,000. Finally, FMR LLC grew its holdings in shares of NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after purchasing an additional 12,804 shares during the last quarter. Institutional investors 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.