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

NextNav Inc. (NASDAQ:NN) shares shot up 9.7% on Wednesday . The stock traded as high as $10.05 and last traded at $10.31. 583,298 shares were traded during trading, a decline of 55% from the average session volume of 1,295,502 shares. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

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

NextNav Stock Performance

The business’s fifty day moving average is $12.74 and its two-hundred day moving average is $11.74. The stock has a market capitalization of $1.48 billion, a PE ratio of -15.05 and a beta of 1.13. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

Insider Transactions at NextNav

In related news, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Christian D. Gates sold 3,918 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total transaction of $69,152.70. Following the transaction, the chief financial officer now owns 815,722 shares in the company, valued at $14,397,493.30. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,908 shares of company stock worth $141,851 in the last three months. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several institutional investors have recently made changes to their positions in the company. US Bancorp DE bought a new position in shares of NextNav during the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. increased its position in shares of 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 purchased a new stake in shares of NextNav during the 4th quarter valued at $78,000. King Luther Capital Management Corp purchased a new stake in shares of NextNav during the third quarter worth about $90,000. Finally, FMR LLC increased its holdings in shares of NextNav by 354.3% during the third 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. Hedge funds and other 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.