NextNav (NASDAQ:NN) Stock Price Down 6.7% - Time to Sell?

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) fell 6.7% on Wednesday . The company traded as low as $12.49 and last traded at $12.72. 212,957 shares changed hands during trading, a decline of 91% from the average session volume of 2,346,180 shares. The stock had previously closed at $13.64.

Analyst Ratings Changes

Separately, B. Riley increased their price objective on shares of NextNav from $12.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, November 14th.

NextNav Trading Down 5.5 %

The firm has a market cap of $1.68 billion, a P/E ratio of -17.19 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. The firm has a fifty day moving average of $15.51 and a 200-day moving average of $10.62.

Insider Activity

In related news, CFO Christian D. Gates sold 3,918 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the sale, the chief financial officer now owns 815,722 shares of the company's stock, valued at $14,397,493.30. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mariam Sorond sold 200,000 shares of the company's stock in a transaction that occurred 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. This trade represents a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,367 shares of company stock valued at $3,442,705. Insiders own 15.70% of the company's stock.

Hedge Funds Weigh In On NextNav

Several large investors have recently made changes to their positions in NN. JPMorgan Chase & Co. grew its holdings in shares of NextNav by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company's stock worth $244,000 after acquiring an additional 616 shares during the last quarter. 272 Capital LP acquired a new position in shares of NextNav in the 3rd quarter valued at $756,000. Geode Capital Management LLC increased its stake in NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company's stock worth $12,672,000 after purchasing an additional 158,455 shares in the last quarter. Barclays PLC increased its stake in NextNav by 29.2% in the 3rd quarter. Barclays PLC now owns 291,964 shares of the company's stock worth $2,187,000 after purchasing an additional 66,039 shares in the last quarter. Finally, State Street Corp raised its holdings in NextNav by 1.1% during the 3rd quarter. State Street Corp now owns 2,010,131 shares of the company's stock worth $15,056,000 after buying an additional 22,152 shares during the period. 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.