NextNav (NASDAQ:NN) Stock Price Down 4.3% – Should You Sell?

NextNav Inc. (NASDAQ:NN) fell 4.3% on Monday . The company traded as low as $14.77 and last traded at $14.93. 306,776 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 896,919 shares. The stock had previously closed at $15.60.

Wall Street Analysts Forecast Growth

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

NextNav Trading Down 2.9 %

The firm has a market cap of $1.98 billion, a P/E ratio of -20.20 and a beta of 1.13. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average price is $14.09 and its two-hundred day moving average price is $9.95.

Insider Transactions at NextNav

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the sale, the senior vice president now owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the transaction, the chief executive officer now owns 1,574,117 shares in the company, valued at $25,815,518.80. The trade was a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,367 shares of company stock valued at $3,442,705. Corporate insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in NextNav in the second quarter valued at approximately $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the second quarter worth $82,000. Quest Partners LLC acquired a new position in NextNav in the second quarter valued at about $88,000. King Luther Capital Management Corp bought a new position in NextNav during the third quarter worth about $90,000. Finally, Wolverine Asset Management LLC grew its position in shares of NextNav by 323.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after buying an additional 9,248 shares during the period. Institutional investors own 79.16% of the company’s stock.

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.