NextNav (NASDAQ:NN) Trading 4% Higher – What’s Next?

NextNav Inc. (NASDAQ:NN)’s share price was up 4% during trading on Tuesday . The company traded as high as $17.69 and last traded at $17.67. Approximately 140,649 shares traded hands during trading, a decline of 84% from the average daily volume of 874,029 shares. The stock had previously closed at $16.99.

Wall Street Analyst Weigh In

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

NextNav Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The business’s 50-day moving average price is $12.42 and its 200 day moving average price is $9.37. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -22.65 and a beta of 1.13.

Insider Transactions at NextNav

In other news, CEO Mariam Sorond sold 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total value of $3,280,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. This represents a 11.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 201,459 shares of company stock valued at $3,300,854. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of NextNav

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after purchasing an additional 887,075 shares during the last quarter. Wolf Hill Capital Management LP raised its stake in NextNav by 14.6% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after buying an additional 269,754 shares during the period. Empyrean Capital Partners LP grew its position in shares of NextNav by 56.6% in the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after purchasing an additional 238,845 shares during the period. DigitalBridge Group Inc. bought a new stake in shares of NextNav during the second quarter worth $1,741,000. Finally, Marshall Wace LLP acquired a new stake in shares of NextNav in the 2nd quarter valued at about $1,571,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Company Profile

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.