NextNav Sees Unusually High Options Volume (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN - Get Free Report) was the target of some unusual options trading on Monday. Stock traders purchased 5,634 call options on the company. This is an increase of approximately 164% compared to the average volume of 2,133 call options.

NextNav Price Performance

Shares of NASDAQ NN traded down $2.60 during midday trading on Monday, hitting $13.51. The company had a trading volume of 7,539,006 shares, compared to its average volume of 3,017,901. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -18.01 and a beta of 1.17. NextNav has a twelve month low of $3.55 and a twelve month high of $18.54. The business has a 50-day simple moving average of $15.47 and a two-hundred day simple moving average of $10.58. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

Analyst Ratings Changes

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

Insider Activity

In related news, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares of the company's stock, valued at $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total value of $3,280,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,574,117 shares in the company, valued at $25,815,518.80. This represents a 11.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,367 shares of company stock valued at $3,442,705. Company 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 modified their holdings of NN. Principal Financial Group Inc. acquired a new position in shares of NextNav during the 2nd quarter worth $82,000. Quest Partners LLC purchased a new position in NextNav during the 2nd quarter valued at about $88,000. King Luther Capital Management Corp acquired a new position in NextNav during the third quarter worth about $90,000. FMR LLC lifted its holdings in shares of NextNav by 354.3% in the third quarter. FMR LLC now owns 16,418 shares of the company's stock valued at $123,000 after purchasing an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of NextNav in the third quarter valued at approximately $125,000. 79.16% of the stock is currently 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.