NextNav (NASDAQ:NN) Stock Price Down 4.3% – What’s Next?

NextNav Inc. (NASDAQ:NN) fell 4.3% during trading on Monday . The company traded as low as $14.77 and last traded at $14.93. 306,776 shares changed hands during trading, a decline of 66% from the average session volume of 896,919 shares. The stock had previously closed at $15.60.

Analysts Set New Price Targets

Separately, B. Riley raised their price target 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 Stock Performance

The company has a fifty day moving average of $14.09 and a 200 day moving average of $9.95. 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 stock has a market cap of $1.98 billion, a P/E ratio of -20.20 and a beta of 1.13.

Insider Buying and Selling

In related news, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total value of $69,152.70. Following the completion of the sale, the chief financial officer now owns 815,722 shares in the company, valued at approximately $14,397,493.30. This represents a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,367 shares of company stock worth $3,442,705 in the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NextNav

A number of large investors have recently made changes to their positions in the business. Wolf Hill Capital Management LP raised its position in NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after acquiring an additional 269,754 shares in the last quarter. Empyrean Capital Partners LP boosted its position in NextNav by 56.6% during the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after purchasing an additional 238,845 shares during the period. DigitalBridge Group Inc. bought a new position in shares of NextNav in the second quarter valued at approximately $1,741,000. Marshall Wace LLP acquired a new stake in shares of NextNav in the second quarter worth $1,571,000. Finally, Geode Capital Management LLC boosted its holdings in shares of NextNav by 10.3% during 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 during the period. 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.