Christian D. Gates Sells 3,918 Shares of NextNav Inc. (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) 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 sale, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NextNav Stock Down 6.2 %

Shares of NextNav stock opened at $16.47 on Thursday. NextNav Inc. has a one year low of $3.55 and a one year high of $18.54. The company has a market cap of $2.15 billion, a P/E ratio of -21.96 and a beta of 1.13. 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 firm has a fifty day moving average of $13.75 and a two-hundred day moving average of $9.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in NextNav during the second quarter worth $50,000. Principal Financial Group Inc. purchased a new position in shares of NextNav in the 2nd quarter valued at about $82,000. Quest Partners LLC acquired a new stake in shares of NextNav in the second quarter valued at about $88,000. King Luther Capital Management Corp purchased a new stake in NextNav during the third quarter worth about $90,000. Finally, Wolverine Asset Management LLC grew its position in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after buying an additional 9,248 shares during the period. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.