NextNav (NASDAQ:NN) Trading Down 2.5% – Should You Sell?

NextNav Inc. (NASDAQ:NN)’s stock price dropped 2.5% on Tuesday . The company traded as low as $16.08 and last traded at $16.20. Approximately 94,893 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 900,442 shares. The stock had previously closed at $16.62.

Analysts Set New Price Targets

Separately, B. Riley raised their target price on shares of NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

NextNav Stock Performance

The firm has a market cap of $2.03 billion, a PE ratio of -20.75 and a beta of 1.13. The stock has a 50-day moving average price of $15.20 and a 200 day moving average price of $10.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

Insider Buying and Selling at NextNav

In related news, CFO Christian D. Gates sold 3,918 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 approximately $14,397,493.30. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $3,280,000.00. Following the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,367 shares of company stock worth $3,442,705 in the last 90 days. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NN. JPMorgan Chase & Co. boosted its stake in shares of NextNav by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock valued at $244,000 after purchasing an additional 616 shares during the period. Raymond James & Associates lifted its stake in shares of 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 acquiring an additional 1,500 shares in the last quarter. Van ECK Associates Corp lifted its stake 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. CIBC Asset Management Inc boosted 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 valued at $159,000 after purchasing an additional 3,140 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in NextNav during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.