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

NextNav Inc. (NASDAQ:NN - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $16.76, but opened at $16.17. NextNav shares last traded at $15.93, with a volume of 300,219 shares changing hands.

Analyst Upgrades and Downgrades

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

NextNav Stock Down 6.9 %

The firm's fifty day simple moving average is $13.94 and its 200 day simple moving average is $9.87. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -20.80 and a beta of 1.13.

Insider Transactions at NextNav

In related news, CFO Christian D. Gates sold 3,918 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total value of $69,152.70. Following the completion of the sale, the chief financial officer now owns 815,722 shares in the company, valued at $14,397,493.30. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Arun Raghupathy sold 3,332 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at $19,914,188.08. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NN. 272 Capital LP acquired a new stake in shares of NextNav in the 3rd quarter worth $756,000. Geode Capital Management LLC raised its holdings in NextNav by 10.3% during the third 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 lifted its position in NextNav by 29.2% in the third quarter. Barclays PLC now owns 291,964 shares of the company's stock valued at $2,187,000 after purchasing an additional 66,039 shares during the period. State Street Corp boosted its holdings in NextNav by 1.1% in the 3rd quarter. State Street Corp now owns 2,010,131 shares of the company's stock valued at $15,056,000 after purchasing an additional 22,152 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in NextNav during the 3rd quarter worth approximately $1,060,000. Institutional investors and hedge funds 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.