Traders Buy High Volume of Call Options on NextNav (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the target of unusually large options trading activity on Monday. Stock traders bought 5,634 call options on the company. This is an increase of approximately 164% compared to the typical volume of 2,133 call options.

NextNav Price Performance

NASDAQ:NN opened at $13.64 on Wednesday. NextNav has a one year low of $3.55 and a one year high of $18.54. The stock has a market cap of $1.78 billion, a PE ratio of -18.19 and a beta of 1.17. 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 stock has a 50 day moving average price of $15.51 and a 200 day moving average price of $10.62.

Insider Transactions at NextNav

In other news, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the sale, the chief financial officer now owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the sale, the senior vice president now owns 1,087,019 shares of the company’s stock, valued at $19,914,188.08. This trade represents a 0.31 % 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. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of NextNav

A number of hedge funds and other institutional investors have recently modified their holdings of NN. Principal Financial Group Inc. acquired a new position in NextNav in the second quarter valued at approximately $82,000. Quest Partners LLC purchased a new stake in NextNav in the second quarter valued at $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav in the 3rd quarter valued at $90,000. FMR LLC grew its holdings in shares of NextNav by 354.3% during the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after purchasing an additional 12,804 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of NextNav during the 3rd quarter worth about $125,000. 79.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, B. Riley increased their price objective 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 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.