NextNav (NASDAQ:NN) Price Target Raised to $20.00 at B. Riley

NextNav (NASDAQ:NN) had its price target increased by B. Riley from $12.00 to $20.00 in a report released on Thursday morning, Marketbeat reports. They currently have a buy rating on the stock.

NextNav Trading Up 0.5 %

Shares of NASDAQ:NN opened at $14.22 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.93 and a current ratio of 5.01. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -18.96 and a beta of 0.94. NextNav has a 1-year low of $3.55 and a 1-year high of $17.02. The company has a 50 day moving average price of $9.55 and a 200 day moving average price of $8.43.

Insider Buying and Selling

In other NextNav news, Director Neil S. Subin bought 100,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $6.92 per share, with a total value of $692,000.00. Following the completion of the transaction, the director now directly owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. This represents a 4.41 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextNav

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after purchasing an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP increased its stake in NextNav by 14.6% in 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 during the period. State Street Corp increased its stake in NextNav by 1.1% in the 3rd quarter. State Street Corp now owns 2,010,131 shares of the company’s stock valued at $15,056,000 after buying an additional 22,152 shares during the period. Geode Capital Management LLC lifted its position in NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after buying an additional 158,455 shares in the last quarter. Finally, Empyrean Capital Partners LP boosted its stake in shares of NextNav by 56.6% during the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after buying an additional 238,845 shares during the period. 79.16% of the stock is currently owned by institutional investors and hedge funds.

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.