Van ECK Associates Corp Increases Stake in NextNav Inc. (NASDAQ:NN)

Van ECK Associates Corp boosted its holdings in shares of NextNav Inc. (NASDAQ:NN - Free Report) by 268.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,815 shares of the company's stock after buying an additional 57,403 shares during the quarter. Van ECK Associates Corp owned approximately 0.06% of NextNav worth $1,226,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in shares of NextNav during the fourth quarter valued at about $78,000. Whitaker Myers Wealth Managers LTD. bought a new position in shares of NextNav during the 4th quarter worth approximately $157,000. King Luther Capital Management Corp purchased a new stake in NextNav during the third quarter valued at approximately $90,000. FMR LLC boosted its stake in 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 acquiring an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in NextNav in the third quarter worth $125,000. Institutional investors own 79.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their price objective 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 5.1 %

NASDAQ NN traded down $0.57 during trading on Tuesday, hitting $10.67. The company's stock had a trading volume of 1,049,017 shares, compared to its average volume of 1,308,587. NextNav Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $18.54. The company has a market cap of $1.39 billion, a PE ratio of -14.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The business's 50 day simple moving average is $13.30 and its 200-day simple moving average is $11.65.

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Insider Buying and Selling

In related news, CFO Christian D. Gates sold 3,918 shares of NextNav stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,908 shares of company stock worth $3,421,851 in the last three months. Corporate insiders own 15.70% 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.