NextNav (NASDAQ:NN) Stock Price Up 6.7% - What's Next?

NextNav Inc. (NASDAQ:NN - Get Free Report) shot up 6.7% during mid-day trading on Thursday . The stock traded as high as $16.01 and last traded at $15.92. 119,245 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 896,740 shares. The stock had previously closed at $14.92.

Wall Street Analysts Forecast Growth

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

NextNav Stock Performance

The firm has a 50 day moving average of $14.51 and a two-hundred day moving average of $10.09. 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 stock has a market cap of $2.18 billion, a PE ratio of -22.24 and a beta of 1.13.

Insider Buying and Selling

In other news, CFO Christian D. Gates sold 3,918 shares of the firm's stock in a transaction 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 in the company, valued at $14,397,493.30. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mariam Sorond sold 200,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was 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 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 sold 209,367 shares of company stock valued at $3,442,705 over the last ninety days. Corporate insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On NextNav

Several large investors have recently made changes to their positions in NN. Wolf Hill Capital Management LP grew its stake in shares of NextNav by 14.6% during 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. Empyrean Capital Partners LP grew its holdings in shares of NextNav by 56.6% during the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company's stock valued at $5,359,000 after purchasing an additional 238,845 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in NextNav in the second quarter worth $1,741,000. Marshall Wace LLP acquired a new stake in shares of NextNav in the 2nd quarter worth about $1,571,000. Finally, Geode Capital Management LLC increased its stake in shares of NextNav by 10.3% in the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company's stock valued at $12,672,000 after purchasing an additional 158,455 shares during the period. Institutional investors and hedge funds 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.