NextNav (NASDAQ:NN) Shares Gap Down - Should You Sell?

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $16.11, but opened at $15.43. NextNav shares last traded at $13.13, with a volume of 767,934 shares traded.

Analyst Ratings Changes

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

NextNav Trading Down 16.1 %

The stock's 50-day moving average price is $15.47 and its 200 day moving average price is $10.58. 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 firm has a market capitalization of $1.76 billion, a PE ratio of -18.01 and a beta of 1.13.

Insiders Place Their Bets

In other news, SVP Arun Raghupathy sold 3,332 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the sale, the senior vice president now owns 1,087,019 shares of the company's stock, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,367 shares of company stock worth $3,442,705 in the last ninety days. 15.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextNav

A number of institutional investors have recently added to or reduced their stakes in the stock. Wolf Hill Capital Management LP boosted its stake in NextNav by 14.6% in the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company's stock valued at $17,218,000 after acquiring an additional 269,754 shares in the last quarter. State Street Corp grew its stake 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 last quarter. Geode Capital Management LLC increased its position in NextNav by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company's stock valued at $12,672,000 after buying an additional 158,455 shares in the last quarter. Empyrean Capital Partners LP raised 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 buying an additional 238,845 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company's stock worth $4,096,000 after acquiring an additional 57,780 shares in the last quarter. 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.