NextNav (NASDAQ:NN) Shares Gap Down – What’s Next?

NextNav Inc. (NASDAQ:NN) gapped down before the market opened on Friday . The stock had previously closed at $16.76, but opened at $16.17. NextNav shares last traded at $15.93, with a volume of 300,219 shares.

Analyst Ratings Changes

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

NextNav Price Performance

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 stock has a 50-day simple moving average of $14.09 and a 200 day simple moving average of $9.94. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -20.80 and a beta of 1.13.

Insider Transactions at NextNav

In other news, CFO Christian D. Gates sold 3,918 shares of NextNav stock in a transaction dated Tuesday, December 17th. The stock was 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 directly owns 815,722 shares in the company, valued at $14,397,493.30. The trade was a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mariam Sorond sold 200,000 shares of the business’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. The trade was a 11.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,367 shares of company stock valued at $3,442,705 over the last three months. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of NextNav

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position 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 worth $4,096,000 after buying an additional 57,780 shares during the last quarter. 272 Capital LP bought a new position in shares of NextNav in the 3rd quarter valued at approximately $756,000. Wittenberg Investment Management Inc. acquired a new stake in NextNav in the 3rd quarter worth approximately $366,000. Paloma Partners Management Co bought a new stake in NextNav during the third quarter worth approximately $1,060,000. Finally, Wolf Hill Capital Management LP grew its holdings in NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after purchasing an additional 269,754 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

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.