Insider Selling: NextNav Inc. (NASDAQ:NN) CFO Sells 3,918 Shares of Stock

NextNav Inc. (NASDAQ:NN) CFO Christian D. Gates sold 3,918 shares of the business’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 transaction, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

NextNav Stock Performance

Shares of NN traded down $1.02 during mid-day trading on Wednesday, reaching $16.53. 1,198,348 shares of the company’s stock traded hands, compared to its average volume of 884,883. NextNav Inc. has a 12 month low of $3.55 and a 12 month high of $18.54. The stock has a market capitalization of $2.16 billion, a P/E ratio of -22.04 and a beta of 1.13. The business’s 50-day moving average price is $13.58 and its 200-day moving average price is $9.78. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

Wall Street Analysts Forecast Growth

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

Institutional Trading of NextNav

Several hedge funds have recently added to or reduced their stakes in NN. Raymond James & Associates raised its position in shares of NextNav by 1.0% during the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock worth $1,265,000 after buying an additional 1,500 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of NextNav by 10.0% during the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock valued at $160,000 after acquiring an additional 1,948 shares during the period. CIBC Asset Management Inc raised its holdings in NextNav by 19.0% during the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock worth $159,000 after purchasing an additional 3,140 shares in the last quarter. nVerses Capital LLC bought a new stake in NextNav during the second quarter worth approximately $50,000. Finally, The Manufacturers Life Insurance Company lifted its position in NextNav by 39.6% in the second quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock worth $242,000 after purchasing an additional 8,466 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.