NextNav (NASDAQ:NN) Reaches New 52-Week High – Should You Buy?

NextNav Inc. (NASDAQ:NN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $14.90 and last traded at $14.90, with a volume of 808 shares changing hands. The stock had previously closed at $14.48.

NextNav Stock Down 1.1 %

The firm’s 50-day moving average is $9.15 and its 200 day moving average is $8.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93.

Insider Transactions at NextNav

In other news, Director Neil S. Subin acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the transaction, the director now directly owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Neil S. Subin acquired 125,000 shares of NextNav stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil S. Subin acquired 100,000 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the acquisition, the director now directly owns 2,365,213 shares in the company, valued at $16,367,273.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 11.30% of the company’s stock.

Institutional Trading of NextNav

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in NextNav during the second quarter worth about $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the 2nd quarter valued at approximately $82,000. Quest Partners LLC purchased a new stake in shares of NextNav during the 2nd quarter worth approximately $88,000. King Luther Capital Management Corp acquired a new stake in shares of NextNav in the 3rd quarter worth approximately $90,000. Finally, Wolverine Asset Management LLC increased its stake in NextNav by 323.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after purchasing an additional 9,248 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.