NextNav (NASDAQ:NN) Hits New 1-Year High – Should You Buy?

NextNav Inc. (NASDAQ:NN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.90 and last traded at $14.90, with a volume of 808 shares trading hands. The stock had previously closed at $14.48.

NextNav Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 5.93 and a quick ratio of 5.93. The business has a 50-day moving average price of $9.15 and a 200-day moving average price of $8.32.

Insider Activity

In other NextNav news, Director Neil S. Subin acquired 125,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $6.93 per share, with a total value of $866,250.00. Following the transaction, the director now owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Neil S. Subin purchased 125,000 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Neil S. Subin bought 100,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NN. nVerses Capital LLC purchased a new stake in shares of NextNav during the 2nd quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new position in NextNav in the second quarter valued at $82,000. Quest Partners LLC purchased a new position in shares of NextNav during the second quarter worth about $88,000. King Luther Capital Management Corp acquired a new stake in shares of NextNav during the third quarter worth about $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of NextNav by 323.6% in the 2nd 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.

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.