NextNav (NASDAQ:NN) Trading Down 2.5% – Time to Sell?

NextNav Inc. (NASDAQ:NN) shares dropped 2.5% during trading on Tuesday . The stock traded as low as $16.08 and last traded at $16.20. Approximately 94,893 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 900,442 shares. The stock had previously closed at $16.62.

Analyst Ratings Changes

Separately, B. Riley raised their price objective 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 Down 6.4 %

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’s fifty day simple moving average is $15.20 and its 200-day simple moving average is $10.40. The stock has a market cap of $2.03 billion, a P/E ratio of -20.75 and a beta of 1.13.

Insider Buying and Selling

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares of the company’s stock, valued at $19,914,188.08. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the chief financial officer now owns 815,722 shares in the company, valued at $14,397,493.30. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,367 shares of company stock valued at $3,442,705. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of NextNav in the 2nd quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new stake in NextNav in the second quarter worth approximately $82,000. Quest Partners LLC bought a new position in NextNav during the 2nd quarter valued at $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav during the 3rd quarter valued at $90,000. Finally, Wolverine Asset Management LLC raised its stake 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 worth $98,000 after buying an additional 9,248 shares in the last quarter. Institutional investors and hedge funds 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.