NextNav Target of Unusually Large Options Trading (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the target of some unusual options trading on Monday. Investors acquired 5,634 call options on the stock. This is an increase of 164% compared to the typical volume of 2,133 call options.

Analysts Set New Price Targets

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

Insider Buying and Selling at NextNav

In related news, CEO Mariam Sorond sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total value 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 represents a 11.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christian D. Gates sold 3,918 shares of the firm’s stock in a transaction on 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 directly owns 815,722 shares in the company, valued at approximately $14,397,493.30. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,367 shares of company stock valued at $3,442,705. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new stake in shares of NextNav during the second quarter valued at $82,000. Quest Partners LLC purchased a new stake in NextNav in the 2nd quarter valued at about $88,000. King Luther Capital Management Corp purchased a new position in shares of NextNav during the third quarter worth approximately $90,000. FMR LLC raised its stake in shares of NextNav by 354.3% during 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 stake in shares of NextNav in the third quarter valued at approximately $125,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Stock Down 16.7 %

NextNav stock traded down $2.69 during mid-day trading on Monday, hitting $13.42. The company had a trading volume of 3,668,546 shares, compared to its average volume of 1,587,293. The company has a market capitalization of $1.75 billion, a PE ratio of -17.89 and a beta of 1.13. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav has a 12 month low of $3.55 and a 12 month high of $18.54. The stock’s 50 day moving average price is $15.43 and its two-hundred day moving average price is $10.52.

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.