NextNav (NASDAQ:NN) Trading Up 5.8% – Time to Buy?

NextNav Inc. (NASDAQ:NN) shares were up 5.8% during trading on Monday . The company traded as high as $12.80 and last traded at $12.67. Approximately 900,839 shares traded hands during trading, a decline of 65% from the average daily volume of 2,595,264 shares. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

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

NextNav Price Performance

The business has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $10.79. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.68 billion, a PE ratio of -17.16 and a beta of 1.17.

Insider Buying and Selling

In related news, CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 $25,815,518.80. This represents a 11.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the sale, the senior vice president now owns 1,087,019 shares in the company, valued at $19,914,188.08. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,367 shares of company stock worth $3,442,705 in the last 90 days. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whitaker Myers Wealth Managers LTD. bought a new position in NextNav in the 4th quarter valued at approximately $157,000. JPMorgan Chase & Co. lifted its position in NextNav by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock valued at $244,000 after acquiring an additional 616 shares in the last quarter. 272 Capital LP bought a new position in shares of NextNav during the 3rd quarter valued at $756,000. Geode Capital Management LLC lifted its holdings in shares of NextNav by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after buying an additional 158,455 shares during the period. Finally, Barclays PLC lifted its holdings in shares of NextNav by 29.2% during the 3rd quarter. Barclays PLC now owns 291,964 shares of the company’s stock valued at $2,187,000 after buying an additional 66,039 shares during the period. 79.16% of the stock is owned by 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.