NextNav (NASDAQ:NN) Shares Down 9.1% - What's Next?

NextNav Inc. (NASDAQ:NN - Get Free Report) fell 9.1% during trading on Tuesday . The company traded as low as $9.12 and last traded at $9.05. 374,356 shares changed hands during trading, a decline of 71% from the average session volume of 1,273,295 shares. The stock had previously closed at $9.95.

Analyst Ratings Changes

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

NextNav Stock Performance

The stock has a 50-day moving average of $12.44 and a 200-day moving average of $11.76. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -14.35 and a beta of 1.17. 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 Activity at NextNav

In other NextNav news, CFO Christian D. Gates sold 3,918 shares of the business'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 transaction of $69,152.70. Following the transaction, the chief financial officer now owns 815,722 shares of the company's stock, valued at $14,397,493.30. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Arun Raghupathy sold 3,332 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at $19,914,188.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,908 shares of company stock valued at $141,851. 15.70% of the stock is owned by insiders.

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Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NN. Van ECK Associates Corp increased its position in shares of NextNav by 10.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company's stock worth $160,000 after purchasing an additional 1,948 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of NextNav during the 3rd quarter worth approximately $125,000. King Luther Capital Management Corp bought a new position in shares of NextNav during the 3rd quarter worth approximately $90,000. Intech Investment Management LLC bought a new position in shares of NextNav during the 3rd quarter worth approximately $150,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NextNav by 11.8% during the 3rd 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 during the period. 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.