NextNav Inc. (NASDAQ:NN – Get Free Report)’s share price dropped 4.3% during trading on Wednesday . The company traded as low as $13.68 and last traded at $13.33. Approximately 206,814 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,878,177 shares. The stock had previously closed at $13.93.
Wall Street Analysts Forecast Growth
Separately, B. Riley raised their price target on NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.
Read Our Latest Stock Report on NextNav
NextNav Price Performance
Insider Buying and Selling at NextNav
In other news, CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christian D. Gates sold 3,918 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the sale, the chief financial officer now owns 815,722 shares in the company, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,367 shares of company stock worth $3,442,705 over the last 90 days. Insiders own 11.30% of the company’s stock.
Institutional Trading of NextNav
Several institutional investors have recently bought and sold shares of NN. Charles Schwab Investment Management Inc. lifted its holdings in NextNav by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after buying an additional 57,780 shares in the last quarter. 272 Capital LP bought a new position in NextNav in the third quarter valued at about $756,000. Wittenberg Investment Management Inc. acquired a new stake in NextNav in the third quarter worth about $366,000. Paloma Partners Management Co bought a new stake in NextNav during the 3rd quarter worth about $1,060,000. Finally, Geode Capital Management LLC boosted its stake in shares of NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after purchasing an additional 158,455 shares during the last quarter. Institutional investors and hedge funds 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.
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