NextNav (NASDAQ:NN) Shares Down 4.9% – Time to Sell?

NextNav Inc. (NASDAQ:NN) shares were down 4.9% during mid-day trading on Tuesday . The company traded as low as $16.36 and last traded at $16.40. Approximately 186,241 shares traded hands during trading, a decline of 79% from the average daily volume of 874,186 shares. The stock had previously closed at $17.25.

Wall Street Analyst Weigh In

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

NextNav Price Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The stock has a market capitalization of $2.14 billion, a PE ratio of -23.00 and a beta of 1.13. The company has a 50-day moving average of $11.47 and a two-hundred day moving average of $9.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in NextNav by 37.7% during the 1st quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after acquiring an additional 887,075 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in shares of NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after purchasing an additional 269,754 shares in the last quarter. Empyrean Capital Partners LP boosted its stake in shares of NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after purchasing an additional 238,845 shares during the period. DigitalBridge Group Inc. acquired a new stake in NextNav during the 2nd quarter valued at $1,741,000. Finally, Marshall Wace LLP purchased a new stake in NextNav during the 2nd quarter worth $1,571,000. 79.16% of the stock is owned by institutional investors and hedge funds.

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.