NextNav (NASDAQ:NN) Trading Down 4.2% - Here's What Happened

NextNav Inc. (NASDAQ:NN - Get Free Report)'s share price traded down 4.2% on Tuesday . The company traded as low as $11.48 and last traded at $11.46. 413,273 shares were traded during trading, a decline of 74% from the average session volume of 1,581,642 shares. The stock had previously closed at $11.96.

Wall Street Analysts Forecast Growth

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

NextNav Stock Performance

The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -16.13 and a beta of 1.13. The company has a 50 day moving average price of $14.54 and a 200 day moving average price of $11.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

Insider Buying and Selling at NextNav

In other news, CFO Christian D. Gates sold 3,918 shares of the company'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 value of $69,152.70. Following the completion of the transaction, the chief financial officer now directly owns 815,722 shares of the company's stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their position. 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. Insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On NextNav

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NN. US Bancorp DE purchased a new position in shares of NextNav in the 4th quarter worth about $28,000. Golden State Wealth Management LLC bought a new position in NextNav during the 4th quarter worth approximately $78,000. Wharton Business Group LLC bought a new stake in NextNav in the fourth quarter valued at approximately $156,000. Mission Wealth Management LP purchased a new stake in shares of NextNav during the fourth quarter valued at approximately $156,000. Finally, Whitaker Myers Wealth Managers LTD. purchased a new position in shares of NextNav in the fourth quarter worth $157,000. 79.16% of the stock is currently owned by institutional investors.

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.