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

NextNav Inc. (NASDAQ:NN - Get Free Report) CFO Christian D. Gates sold 3,918 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 815,722 shares of the company's stock, valued at $14,397,493.30. This trade 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 accessible through this hyperlink.

NextNav Stock Down 6.2 %

NN traded down $1.08 during midday trading on Wednesday, hitting $16.47. 1,728,756 shares of the company's stock traded hands, compared to its average volume of 888,222. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The company has a market cap of $2.15 billion, a PE ratio of -21.96 and a beta of 1.13. The stock's fifty day simple moving average is $13.58 and its 200-day simple moving average is $9.78. NextNav Inc. has a one year low of $3.55 and a one year high of $18.54.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped 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.

Institutional Trading of NextNav

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in NextNav in the 2nd quarter worth $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav in the second quarter valued at about $82,000. Quest Partners LLC bought a new position in shares of NextNav in the second quarter worth about $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav during the 3rd quarter worth about $90,000. Finally, Wolverine Asset Management LLC boosted its stake in NextNav by 323.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company's stock valued at $98,000 after purchasing an additional 9,248 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.