NextNav (NASDAQ:NN) Trading Up 5.8% – Still a Buy?

Shares of NextNav Inc. (NASDAQ:NN) rose 5.8% on Monday . The stock traded as high as $12.80 and last traded at $12.67. Approximately 900,839 shares changed hands during trading, a decline of 65% from the average daily volume of 2,595,264 shares. The stock had previously closed at $11.98.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their price target 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 Trading Up 10.2 %

The firm has a market cap of $1.72 billion, a P/E ratio of -17.60 and a beta of 1.17. The business’s 50-day moving average is $15.56 and its two-hundred day moving average is $10.72. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

Insider Buying and Selling

In other 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 completion of the sale, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at approximately $25,815,518.80. This represents a 11.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christian D. Gates sold 3,918 shares of the firm’s 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 transaction, the chief financial officer now owns 815,722 shares in the company, valued at $14,397,493.30. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,367 shares of company stock valued at $3,442,705 in the last quarter. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NN. 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 valued at $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav in the 3rd quarter valued at $90,000. FMR LLC increased its stake in NextNav by 354.3% in the 3rd quarter. FMR LLC now owns 16,418 shares of the company’s stock worth $123,000 after purchasing an additional 12,804 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in NextNav during the 3rd quarter worth about $125,000. Institutional investors 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.