NextNav (NASDAQ:NN) Trading Up 6.7% – Still a Buy?

Shares of NextNav Inc. (NASDAQ:NN) traded up 6.7% on Thursday . The stock traded as high as $16.01 and last traded at $15.92. 119,245 shares were traded during mid-day trading, a decline of 87% from the average session volume of 896,740 shares. The stock had previously closed at $14.92.

Wall Street Analyst Weigh In

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

NextNav Trading Up 11.7 %

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 firm’s fifty day moving average is $14.37 and its 200-day moving average is $10.06. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -22.23 and a beta of 1.13.

Insider Buying and Selling

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mariam Sorond sold 200,000 shares of the 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 directly owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. This represents a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,367 shares of company stock valued at $3,442,705 over the last 90 days. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. nVerses Capital LLC purchased a new stake in NextNav in the second quarter valued at approximately $50,000. Principal Financial Group Inc. bought a new stake in NextNav during the second quarter worth about $82,000. Quest Partners LLC bought a new position in shares of NextNav during the 2nd quarter valued at about $88,000. King Luther Capital Management Corp purchased a new stake in shares of NextNav in the 3rd quarter valued at $90,000. Finally, Wolverine Asset Management LLC increased its stake in shares of 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 buying an additional 9,248 shares during the period. 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.