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

NextNav Inc. (NASDAQ:NN)’s stock price 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 changing hands.

Insider Buying and Selling at NextNav

In other NextNav news, Director Neil S. Subin bought 125,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the transaction, the director now directly owns 2,490,213 shares in the company, valued at $17,257,176.09. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Neil S. Subin bought 125,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the transaction, the director now directly owns 2,490,213 shares of the company’s stock, valued at approximately $17,257,176.09. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neil S. Subin bought 100,000 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the purchase, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 15.70% of the stock is owned by company insiders.

Institutional Trading of NextNav

Several institutional investors have recently modified their holdings of NN. nVerses Capital LLC acquired a new stake in NextNav during the second quarter valued at approximately $50,000. Principal Financial Group Inc. bought a new stake in shares of NextNav during the 2nd quarter worth $82,000. Quest Partners LLC acquired a new position in shares of NextNav in the 2nd quarter worth $88,000. King Luther Capital Management Corp acquired a new stake in shares of NextNav during the third quarter worth $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after purchasing an additional 9,248 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Price Performance

The stock has a 50-day moving average of $9.27 and a two-hundred day moving average of $8.36. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -18.61 and a beta of 0.94. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80.

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.