NextNav (NASDAQ:NN) Trading Up 5.8% – Time to Buy?

NextNav Inc. (NASDAQ:NN) was up 5.8% on Monday . The stock traded as high as $12.80 and last traded at $12.67. Approximately 900,839 shares were traded during trading, a decline of 65% from the average daily volume of 2,595,264 shares. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

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

NextNav Trading Up 1.9 %

The stock has a fifty day moving average of $15.56 and a 200 day moving average of $10.79. The company has a market capitalization of $1.68 billion, a P/E ratio of -17.16 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.

Insider Buying and Selling

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mariam Sorond sold 200,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total value of $3,280,000.00. Following the completion of the sale, the chief executive officer now owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. The trade was a 11.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,367 shares of company stock valued at $3,442,705. 11.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextNav

A number of institutional investors have recently bought and sold shares of NN. Principal Financial Group Inc. purchased a new stake in NextNav in the 2nd quarter worth $82,000. Quest Partners LLC purchased a new stake in NextNav in the 2nd quarter worth $88,000. King Luther Capital Management Corp purchased a new position in shares of NextNav during the third quarter valued at about $90,000. FMR LLC grew its position in shares of NextNav by 354.3% during the third quarter. FMR LLC now owns 16,418 shares of the company’s stock valued at $123,000 after purchasing an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of NextNav during the third quarter valued at about $125,000. 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.