NextNav (NASDAQ:NN) Trading Down 4.5% – Time to Sell?

NextNav Inc. (NASDAQ:NN)’s stock price was down 4.5% during mid-day trading on Tuesday . The company traded as low as $12.52 and last traded at $12.60. Approximately 182,612 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,378,107 shares. The stock had previously closed at $13.20.

Analyst Ratings Changes

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

NextNav Stock Down 0.6 %

The firm has a 50-day moving average of $15.55 and a two-hundred day moving average of $10.80. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -17.05 and a beta of 1.17. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

Insider Transactions at NextNav

In related news, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the sale, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. This trade represents a 11.27 % 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 business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the transaction, the senior vice president now owns 1,087,019 shares in the company, valued at $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,367 shares of company stock worth $3,442,705 over the last three months. 11.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 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 worth $17,218,000 after acquiring an additional 269,754 shares during the period. State Street Corp lifted its stake in NextNav by 1.1% during the third quarter. State Street Corp now owns 2,010,131 shares of the company’s stock worth $15,056,000 after purchasing an additional 22,152 shares during the period. Geode Capital Management LLC boosted its holdings in NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after purchasing an additional 158,455 shares in the last quarter. Empyrean Capital Partners LP grew its stake in shares of NextNav by 56.6% in the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after purchasing an additional 238,845 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NextNav by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after buying an additional 57,780 shares in the last quarter. 79.16% of the stock is owned by institutional investors.

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.