NextNav (NASDAQ:NN) Sets New 1-Year High - Should You Buy?

NextNav Inc. (NASDAQ:NN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.90 and last traded at $14.90, with a volume of 808 shares. The stock had previously closed at $14.48.

NextNav Stock Performance

The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. The company's 50-day moving average is $8.84 and its two-hundred day moving average is $8.24. The stock has a market capitalization of $1.90 billion, a P/E ratio of -17.71 and a beta of 0.94.

Insider Activity

In other NextNav news, Director Neil S. Subin purchased 125,000 shares of the business's stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $6.93 per share, with a total value of $866,250.00. Following the acquisition, the director now owns 2,490,213 shares of the company's stock, valued at $17,257,176.09. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NextNav news, Director Neil S. Subin bought 100,000 shares of the firm'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 directly owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil S. Subin purchased 125,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares of the company's stock, valued at $17,257,176.09. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On NextNav

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolf Hill Capital Management LP purchased a new stake in shares of NextNav during the 1st quarter worth about $12,195,000. Vanguard Group Inc. raised its position in NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company's stock valued at $21,307,000 after acquiring an additional 887,075 shares in the last quarter. Empyrean Capital Partners LP lifted its stake in 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 acquiring an additional 238,845 shares during the last quarter. DigitalBridge Group Inc. bought a new stake in NextNav in the second quarter worth approximately $1,741,000. Finally, Marshall Wace LLP acquired a new position in shares of NextNav during the 2nd quarter worth $1,571,000. 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.