NextNav Inc. (NASDAQ:NN - Get Free Report) shares were up 6.6% on Friday . The stock traded as high as $17.91 and last traded at $17.83. Approximately 204,682 shares traded hands during trading, a decline of 77% from the average daily volume of 871,892 shares. The stock had previously closed at $16.73.
Analyst Upgrades and Downgrades
Separately, B. Riley increased 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.
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NextNav Price Performance
The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The company has a 50-day moving average of $11.26 and a 200-day moving average of $8.97. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -23.19 and a beta of 0.94.
Hedge Funds Weigh In On NextNav
Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in NextNav in the second quarter worth $50,000. Principal Financial Group Inc. acquired a new position in shares of NextNav in the 2nd quarter valued at about $82,000. Quest Partners LLC bought a new stake in shares of NextNav during the 2nd quarter valued at about $88,000. King Luther Capital Management Corp acquired a new stake in NextNav during the third quarter worth about $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in NextNav by 323.6% in the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company's stock worth $98,000 after acquiring an additional 9,248 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.
About NextNav
(
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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.
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