NextNav Sees Unusually High Options Volume (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw unusually large options trading activity on Monday. Traders purchased 5,634 call options on the company. This is an increase of 164% compared to the average daily volume of 2,133 call options.

Wall Street Analyst Weigh In

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

NextNav Price Performance

Shares of NASDAQ NN opened at $13.51 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01. The firm has a market cap of $1.76 billion, a PE ratio of -18.01 and a beta of 1.17. NextNav has a one year low of $3.55 and a one year high of $18.54. The firm has a fifty day moving average of $15.47 and a 200 day moving average of $10.58.

Insiders Place Their Bets

In other news, SVP Arun Raghupathy sold 3,332 shares of NextNav stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christian D. Gates sold 3,918 shares of the firm’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 sale, the chief financial officer now owns 815,722 shares in the company, valued at approximately $14,397,493.30. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,367 shares of company stock valued at $3,442,705. 15.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NextNav

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of NextNav by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 32,588 shares of the company’s stock worth $244,000 after buying an additional 616 shares in the last quarter. 272 Capital LP acquired a new stake in NextNav in the 3rd quarter valued at about $756,000. Geode Capital Management LLC lifted its stake in NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after purchasing an additional 158,455 shares in the last quarter. Barclays PLC boosted its holdings in shares of NextNav by 29.2% during the 3rd quarter. Barclays PLC now owns 291,964 shares of the company’s stock worth $2,187,000 after purchasing an additional 66,039 shares during the last quarter. Finally, State Street Corp grew its position in shares of NextNav by 1.1% in the third quarter. State Street Corp now owns 2,010,131 shares of the company’s stock valued at $15,056,000 after purchasing an additional 22,152 shares in the last quarter. 79.16% of the stock is currently 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.