NextNav (NASDAQ:NN) Stock Price Down 4.5% – Should You Sell?

NextNav Inc. (NASDAQ:NN)’s share price dropped 4.5% during mid-day trading on Tuesday . The company traded as low as $12.52 and last traded at $12.60. Approximately 182,612 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 2,378,107 shares. The stock had previously closed at $13.20.

Analyst Ratings Changes

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

NextNav Stock Performance

The business’s fifty day moving average is $15.56 and its two-hundred day moving average is $10.76. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.63 billion, a PE ratio of -16.68 and a beta of 1.17.

Insider Transactions at NextNav

In other news, CFO Christian D. Gates sold 3,918 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 815,722 shares of the company’s stock, valued at $14,397,493.30. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mariam Sorond sold 200,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at $25,815,518.80. This represents a 11.27 % 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 worth $3,442,705 in the last ninety days. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of NextNav by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock valued at $4,096,000 after acquiring an additional 57,780 shares during the period. 272 Capital LP bought a new position in shares of NextNav during the third quarter valued at approximately $756,000. Wittenberg Investment Management Inc. purchased a new position in NextNav during the third quarter valued at approximately $366,000. Paloma Partners Management Co purchased a new position in NextNav during the third quarter valued at approximately $1,060,000. Finally, Geode Capital Management LLC raised its stake in NextNav by 10.3% in the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after buying an additional 158,455 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.