NextNav (NASDAQ:NN) Trading Down 4.3% – What’s Next?

NextNav Inc. (NASDAQ:NNGet 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

The stock’s 50 day simple moving average is $15.45 and its 200-day simple moving average is $10.93. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -17.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

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

(Get Free Report)

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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