Traders Buy High Volume of NextNav Call Options (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the recipient of some unusual options trading activity on Thursday. Investors bought 30,544 call options on the stock. This represents an increase of 155% compared to the typical daily volume of 11,966 call options.

Insider Activity

In other news, CFO Timothy Gray sold 1,405 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $18.11, for a total transaction of $25,444.55. Following the sale, the chief financial officer directly owned 131,786 shares in the company, valued at $2,386,644.46. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sammaad Shams sold 3,945 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $19.54, for a total transaction of $77,085.30. Following the sale, the chief accounting officer owned 72,950 shares in the company, valued at $1,425,443. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 101,133 shares of company stock valued at $1,733,594 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Institutional Trading of NextNav

A number of large investors have recently made changes to their positions in NN. Van ECK Associates Corp increased its holdings in shares of NextNav by 79.5% in the 4th quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company’s stock worth $22,955,000 after buying an additional 611,179 shares during the last quarter. Susquehanna Advisors Group Inc. increased its holdings in shares of NextNav by 12.1% in the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock worth $77,325,000 after buying an additional 584,804 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of NextNav by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after buying an additional 573,214 shares during the last quarter. Philosophy Capital Management LLC bought a new stake in shares of NextNav in the 3rd quarter worth about $7,791,000. Finally, UBS Group AG increased its holdings in shares of NextNav by 35.0% in the 4th quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock worth $33,144,000 after buying an additional 516,045 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors.

NextNav Stock Performance

NASDAQ:NN traded up $0.13 during trading hours on Thursday, reaching $21.16. The stock had a trading volume of 1,976,622 shares, compared to its average volume of 1,834,626. NextNav has a 52 week low of $10.84 and a 52 week high of $24.19. The company has a 50 day moving average price of $17.79 and a two-hundred day moving average price of $15.99. The stock has a market capitalization of $2.88 billion, a PE ratio of -13.75 and a beta of 1.03.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm had revenue of $0.95 million during the quarter, compared to the consensus estimate of $0.86 million. Equities research analysts predict that NextNav will post -0.59 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. B. Riley Financial reissued a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Tuesday, April 21st. Oppenheimer raised NextNav from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Thursday, April 16th. Finally, UBS Group set a $25.00 target price on NextNav in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NextNav has an average rating of “Hold” and an average price target of $25.00.

About NextNav

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.