NextNav (NASDAQ:NN) Shares 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 traded hands during trading, a decline of 66% from the average session volume of 896,919 shares. The stock had previously closed at $15.60.

Wall Street Analysts Forecast Growth

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

NextNav Stock Performance

The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a 50-day simple moving average of $14.23 and a 200-day simple moving average of $10.00. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -19.89 and a beta of 1.13.

Insider Activity

In other 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the transaction, the chief executive officer now owns 1,574,117 shares in the company, valued at $25,815,518.80. This represents a 11.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NextNav

Hedge funds have recently modified their holdings of the company. nVerses Capital LLC bought a new stake in NextNav during the second quarter worth approximately $50,000. Principal Financial Group Inc. purchased a new position in NextNav during the 2nd quarter valued at about $82,000. Quest Partners LLC purchased a new stake in shares of NextNav in the second quarter worth approximately $88,000. King Luther Capital Management Corp purchased a new position in NextNav during the third quarter valued at approximately $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 valued at $98,000 after purchasing an additional 9,248 shares in the last quarter. 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.