NextNav Inc. (NASDAQ:NN) SVP Arun Raghupathy Sells 1,123 Shares

NextNav Inc. (NASDAQ:NN) SVP Arun Raghupathy sold 1,123 shares of NextNav stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.27, for a total transaction of $16,025.21. Following the completion of the transaction, the senior vice president now directly owns 1,090,351 shares in the company, valued at $15,559,308.77. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NextNav Trading Up 7.4 %

NN opened at $16.21 on Wednesday. NextNav Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $17.02. The firm has a market capitalization of $2.09 billion, a PE ratio of -21.61 and a beta of 0.94. 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’s 50-day moving average is $9.71 and its 200 day moving average is $8.47.

Institutional Investors Weigh In On NextNav

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of NextNav by 37.7% during the 1st 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 grew its holdings in NextNav by 14.6% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after buying an additional 269,754 shares in the last quarter. Marshall Wace LLP purchased a new position in NextNav during the 2nd quarter valued at about $1,571,000. Bank of New York Mellon Corp increased its position in shares of NextNav by 47.9% during the second quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company’s stock valued at $1,761,000 after buying an additional 70,343 shares during the period. Finally, DigitalBridge Group Inc. purchased a new stake in shares of NextNav in the second quarter worth about $1,741,000. 79.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.