NextNav (NASDAQ:NN) Trading Down 5.3% – What’s Next?

NextNav Inc. (NASDAQ:NN)’s share price was down 5.3% during mid-day trading on Wednesday . The stock traded as low as $15.30 and last traded at $15.35. Approximately 765,486 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 867,195 shares. The stock had previously closed at $16.21.

Analyst Upgrades and Downgrades

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

NextNav Stock Performance

The business’s fifty day moving average price is $9.89 and its 200-day moving average price is $8.52. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The stock has a market cap of $1.98 billion, a PE ratio of -21.39 and a beta of 0.94.

Insider Buying and Selling

In other NextNav news, Director Neil S. Subin bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the acquisition, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. This trade represents a 5.28 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blair William & Co. IL boosted its stake in shares of NextNav by 25.0% during the first quarter. Blair William & Co. IL now owns 50,000 shares of the company’s stock valued at $329,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after purchasing an additional 887,075 shares during the period. Wolf Hill Capital Management LP purchased a new stake in shares of NextNav during the first quarter valued at $12,195,000. PEAK6 Investments LLC boosted its stake in shares of NextNav by 31.0% during the first quarter. PEAK6 Investments LLC now owns 42,131 shares of the company’s stock valued at $277,000 after purchasing an additional 9,976 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of NextNav by 34.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after purchasing an additional 4,405 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.