NextNav (NASDAQ:NN) Trading 9.7% Higher – Should You Buy?

Shares of NextNav Inc. (NASDAQ:NN) rose 9.7% during mid-day trading on Wednesday . The company traded as high as $10.05 and last traded at $10.31. Approximately 583,298 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 1,295,502 shares. The stock had previously closed at $9.40.

Analyst Ratings Changes

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

NextNav Trading Up 20.9 %

The stock has a 50-day moving average of $12.74 and a 200 day moving average of $11.74. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.48 billion, a PE ratio of -15.05 and a beta of 1.13.

Insider Activity

In other NextNav news, CFO Christian D. Gates sold 3,918 shares of the business’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 value of $69,152.70. Following the completion of the transaction, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 approximately $19,914,188.08. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,908 shares of company stock valued at $141,851 in the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. US Bancorp DE acquired a new stake in shares of NextNav during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. boosted its position in NextNav by 112.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after purchasing an additional 1,018 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in NextNav in the fourth quarter valued at approximately $78,000. King Luther Capital Management Corp purchased a new stake in shares of NextNav in the third quarter valued at approximately $90,000. Finally, FMR LLC increased its position in shares of NextNav by 354.3% in the third quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after buying an additional 12,804 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.