NextNav (NASDAQ:NN) Trading Down 4.5% - Should You Sell?

Shares of NextNav Inc. (NASDAQ:NN - Get Free Report) traded down 4.5% during mid-day trading on Tuesday . The stock traded as low as $12.52 and last traded at $12.60. 182,612 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,378,107 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

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

NextNav Stock Down 4.3 %

The business's fifty day moving average is $15.56 and its two-hundred day moving average is $10.76. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -16.84 and a beta of 1.17. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

Insiders Place Their Bets

In other news, CFO Christian D. Gates sold 3,918 shares of the firm'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 sale, the chief financial officer now directly owns 815,722 shares in the company, valued at approximately $14,397,493.30. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mariam Sorond sold 200,000 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,367 shares of company stock worth $3,442,705 over the last 90 days. Corporate insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On NextNav

Several hedge funds and other institutional investors have recently bought and sold shares of NN. JPMorgan Chase & Co. grew its stake in NextNav by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company's stock worth $244,000 after buying an additional 616 shares during the last quarter. 272 Capital LP purchased a new position in shares of NextNav during the third quarter worth approximately $756,000. Geode Capital Management LLC increased its holdings in shares of NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company's stock valued at $12,672,000 after acquiring an additional 158,455 shares during the period. Barclays PLC raised its position in NextNav by 29.2% in the 3rd 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 last quarter. Finally, State Street Corp boosted 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 purchasing an additional 22,152 shares during the period. 79.16% of the stock is currently owned by institutional investors and hedge funds.

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.