NextNav (NASDAQ:NN) Shares Gap Up After Analyst Upgrade

Shares of NextNav Inc. (NASDAQ:NN) gapped up prior to trading on Thursday after B. Riley raised their price target on the stock from $12.00 to $20.00. The stock had previously closed at $13.56, but opened at $14.90. B. Riley currently has a buy rating on the stock. NextNav shares last traded at $15.82, with a volume of 1,060,979 shares.

Insider Buying and Selling

In other NextNav news, Director Neil S. Subin acquired 125,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were acquired at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the acquisition, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. This trade represents a 5.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NextNav

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates grew its holdings in NextNav by 1.0% in the second quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock worth $1,265,000 after purchasing an additional 1,500 shares during the period. Van ECK Associates Corp grew its holdings in 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 purchasing an additional 1,948 shares during the period. CIBC Asset Management Inc grew its holdings in NextNav by 19.0% in the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock worth $159,000 after purchasing an additional 3,140 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in NextNav by 34.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock worth $113,000 after purchasing an additional 4,405 shares during the period. Finally, nVerses Capital LLC purchased a new stake in NextNav in the second quarter worth about $50,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Trading Up 0.5 %

The stock’s fifty day moving average price is $9.55 and its 200 day moving average price is $8.44. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.80 billion, a PE ratio of -18.96 and a beta of 0.94.

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.