NextNav (NASDAQ:NN) Trading Up 9.7% - What's Next?

NextNav Inc. (NASDAQ:NN - Get Free Report) shares shot up 9.7% during trading on Wednesday . The company traded as high as $10.05 and last traded at $10.31. 583,298 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,295,502 shares. The stock had previously closed at $9.40.

Analyst Upgrades and Downgrades

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

NextNav Stock Down 3.7 %

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 market cap of $1.40 billion, a P/E ratio of -14.35 and a beta of 1.17. The stock has a 50 day moving average price of $12.44 and a 200 day moving average price of $11.83.

Insider Buying and Selling

In related news, SVP Arun Raghupathy sold 3,332 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares of the company's stock, valued at approximately $19,914,188.08. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christian D. Gates sold 3,918 shares of the company'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 transaction, the chief financial officer now directly owns 815,722 shares in the company, valued at $14,397,493.30. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,908 shares of company stock worth $141,851 in the last three months. 15.70% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NN. US Bancorp DE acquired a new position in NextNav during the fourth quarter valued at $28,000. Russell Investments Group Ltd. increased its position in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company's stock worth $30,000 after purchasing an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in NextNav in the 4th quarter worth about $78,000. King Luther Capital Management Corp acquired a new position in NextNav in the 3rd quarter worth about $90,000. Finally, FMR LLC increased its position in NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company's stock worth $123,000 after purchasing an additional 12,804 shares during the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.