B. Riley Boosts NextNav (NASDAQ:NN) Price Target to $20.00

NextNav (NASDAQ:NN - Free Report) had its target price raised by B. Riley from $12.00 to $20.00 in a research report report published on Thursday, Marketbeat reports. The firm currently has a buy rating on the stock.

NextNav Trading Up 4.4 %

NN traded up $0.59 during trading on Thursday, hitting $14.15. The company's stock had a trading volume of 3,824,985 shares, compared to its average volume of 859,707. The stock has a market cap of $1.79 billion, a PE ratio of -16.58 and a beta of 0.94. NextNav has a twelve month low of $3.55 and a twelve month high of $17.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93. The firm's 50 day moving average price is $9.27 and its 200-day moving average price is $8.36.

Insider Transactions at NextNav

In related news, Director Neil S. Subin acquired 100,000 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $6.92 per share, with a total value of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares of the company's stock, valued at approximately $16,367,273.96. This represents a 4.41 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. 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 valued at $21,307,000 after purchasing an additional 887,075 shares during the last quarter. Wolf Hill Capital Management LP increased its position in NextNav by 14.6% during the second 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. Empyrean Capital Partners LP boosted its stake in shares of NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company's stock valued at $5,359,000 after buying an additional 238,845 shares during the period. Charles Schwab Investment Management Inc. raised its stake in NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company's stock valued at $4,096,000 after purchasing an additional 57,780 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its position in NextNav by 20.7% during the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company's stock valued at $2,408,000 after purchasing an additional 51,000 shares in the last quarter. Institutional investors own 79.16% of the company's stock.

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.