NextNav (NASDAQ:NN) Stock Price Up 5.8% – Here’s Why

NextNav Inc. (NASDAQ:NN)’s share price traded up 5.8% during trading on Monday . The stock traded as high as $12.80 and last traded at $12.67. 900,839 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,595,264 shares. The stock had previously closed at $11.98.

Analysts Set New Price Targets

Separately, B. Riley lifted their price target on NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

NextNav Trading Up 10.2 %

The firm has a market capitalization of $1.72 billion, a PE ratio of -17.60 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. The company has a fifty day moving average of $15.56 and a 200-day moving average of $10.72.

Insider Activity

In other NextNav news, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Arun Raghupathy sold 3,332 shares of NextNav stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,367 shares of company stock worth $3,442,705 in the last three months. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of NextNav in the second quarter valued at $82,000. Quest Partners LLC acquired a new position in shares of NextNav in the 2nd quarter valued at $88,000. King Luther Capital Management Corp bought a new position in shares of NextNav during the 3rd quarter worth about $90,000. FMR LLC boosted its position in shares of NextNav by 354.3% during the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after acquiring an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in NextNav in the third quarter valued at about $125,000. 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.