NextNav (NASDAQ:NN) Trading Up 6.1% – Time to Buy?

NextNav Inc. (NASDAQ:NN)’s stock price was up 6.1% during mid-day trading on Friday . The company traded as high as $12.13 and last traded at $12.44. Approximately 218,305 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,614,042 shares. The stock had previously closed at $11.73.

Analysts Set New Price Targets

Separately, B. Riley increased their target price 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 Up 8.1 %

The firm has a market cap of $1.65 billion, a PE ratio of -16.97 and a beta of 1.17. 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 stock has a fifty day moving average price of $15.06 and a 200-day moving average price of $11.12.

Insider Buying and Selling at NextNav

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the sale, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christian D. Gates sold 3,918 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total value of $69,152.70. Following the sale, the chief financial officer now owns 815,722 shares in the company, valued at approximately $14,397,493.30. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,367 shares of company stock valued at $3,442,705 in the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Trading of NextNav

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of NextNav in the 2nd quarter valued at about $404,000. Marshall Wace LLP acquired a new stake in NextNav during the 2nd quarter worth $1,571,000. The Manufacturers Life Insurance Company raised its stake in NextNav by 39.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock worth $242,000 after buying an additional 8,466 shares during the period. SG Americas Securities LLC bought a new position in NextNav during the third quarter worth about $205,000. Finally, Van ECK Associates Corp increased its holdings in shares of NextNav by 10.0% in the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock worth $160,000 after acquiring an additional 1,948 shares in the last quarter. 79.16% of the stock is owned by institutional investors.

NextNav Company Profile

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.