NextNav (NASDAQ:NN) Trading Down 4.2% – Time to Sell?

Shares of NextNav Inc. (NASDAQ:NN) dropped 4.2% on Tuesday . The stock traded as low as $11.48 and last traded at $11.46. Approximately 413,273 shares changed hands during trading, a decline of 74% from the average daily volume of 1,581,642 shares. The stock had previously closed at $11.96.

Wall Street Analyst Weigh In

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

NextNav Price Performance

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 capitalization of $1.53 billion, a PE ratio of -15.59 and a beta of 1.13. The stock’s 50 day moving average is $14.91 and its two-hundred day moving average is $11.19.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total value of $3,280,000.00. Following the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at $25,815,518.80. The trade was a 11.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Arun Raghupathy sold 3,332 shares of NextNav stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the sale, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $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 valued at $3,442,705 over the last ninety days. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On NextNav

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of NextNav by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after purchasing an additional 616 shares during the period. Van ECK Associates Corp boosted its position in shares of NextNav by 10.0% during the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock worth $160,000 after buying an additional 1,948 shares during the period. Rhumbline Advisers grew its stake in shares of NextNav by 3.2% in the fourth quarter. Rhumbline Advisers now owns 99,516 shares of the company’s stock valued at $1,548,000 after buying an additional 3,075 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in shares of NextNav by 1.5% in the 4th quarter. Ingalls & Snyder LLC now owns 301,400 shares of the company’s stock valued at $4,690,000 after buying an additional 4,500 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in NextNav during the 4th quarter worth about $78,000. Institutional investors and hedge funds 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.