NextNav (NASDAQ:NN) Sets New 1-Year High – Time to Buy?

NextNav Inc. (NASDAQ:NN)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $18.30 and last traded at $18.11, with a volume of 647866 shares traded. The stock had previously closed at $16.79.

Wall Street Analysts Forecast Growth

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

NextNav Trading Up 7.2 %

The company has a 50-day moving average price of $13.18 and a 200 day moving average price of $9.64. The stock has a market capitalization of $2.32 billion, a P/E ratio of -24.15 and a beta of 1.13. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

Insider Activity at NextNav

In related news, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 201,459 shares of company stock valued at $3,300,854 in the last ninety days. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several institutional investors and hedge funds have recently modified their holdings of NN. 272 Capital LP acquired a new position in NextNav during the third quarter worth $756,000. Geode Capital Management LLC raised its position 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 purchasing an additional 158,455 shares during the last quarter. Barclays PLC lifted its stake in NextNav by 29.2% in the 3rd quarter. Barclays PLC now owns 291,964 shares of the company’s stock valued at $2,187,000 after buying an additional 66,039 shares in the last quarter. State Street Corp boosted its holdings in NextNav by 1.1% in the 3rd quarter. State Street Corp now owns 2,010,131 shares of the company’s stock worth $15,056,000 after buying an additional 22,152 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in NextNav during the 3rd quarter worth approximately $1,060,000. Hedge funds and other institutional investors 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.