B. Riley Issues Positive Forecast for NextNav (NASDAQ:NN) Stock Price

NextNav (NASDAQ:NN) had its price objective raised by B. Riley from $12.00 to $20.00 in a research note released on Thursday morning, MarketBeat Ratings reports. B. Riley currently has a buy rating on the stock.

NextNav Trading Up 0.5 %

NextNav stock traded up $0.07 during trading hours on Thursday, reaching $14.22. The stock had a trading volume of 1,156,138 shares, compared to its average volume of 860,268. The stock has a market cap of $1.80 billion, a PE ratio of -18.87 and a beta of 0.94. NextNav has a 52 week low of $3.55 and a 52 week high of $17.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93. The company has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $8.36.

Insider Activity

In other NextNav news, Director Neil S. Subin acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $6.92 per share, with a total value of $692,000.00. Following the completion of the purchase, the director now directly owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. The trade was a 4.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Raymond James & Associates increased its holdings in NextNav by 1.0% during the second quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock valued at $1,265,000 after buying an additional 1,500 shares during the last quarter. Van ECK Associates Corp increased its holdings in NextNav by 10.0% during the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock valued at $160,000 after buying an additional 1,948 shares during the last quarter. CIBC Asset Management Inc increased its holdings in NextNav by 19.0% during the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock valued at $159,000 after buying an additional 3,140 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in NextNav by 34.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after buying an additional 4,405 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of NextNav in the second quarter worth approximately $50,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.