NextNav (NASDAQ:NN) Given New $20.00 Price Target at B. Riley

NextNav (NASDAQ:NN) had its price target lifted by B. Riley from $12.00 to $20.00 in a research note released on Thursday, Marketbeat.com reports. They currently have a buy rating on the stock.

NextNav Stock Up 0.5 %

Shares of NASDAQ NN opened at $14.22 on Thursday. NextNav has a fifty-two week low of $3.55 and a fifty-two week high of $17.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.93 and a current ratio of 5.01. The company’s 50 day simple moving average is $9.55 and its 200 day simple moving average is $8.43.

Insider Activity

In other news, Director Neil S. Subin acquired 125,000 shares of NextNav stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now directly owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. The trade was a 5.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextNav

Several hedge funds have recently bought and sold shares of NN. Vanguard Group Inc. increased its holdings in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after acquiring an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP lifted its holdings in shares of NextNav by 14.6% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after purchasing an additional 269,754 shares in the last quarter. State Street Corp grew its position in shares of NextNav by 1.1% in the 3rd quarter. State Street Corp now owns 2,010,131 shares of the company’s stock valued at $15,056,000 after purchasing an additional 22,152 shares during the period. Geode Capital Management LLC increased its stake in 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 in the last quarter. Finally, Empyrean Capital Partners LP increased its stake in NextNav by 56.6% during the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after purchasing an additional 238,845 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

About NextNav

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.