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

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 trading hands.

Wall Street Analyst Weigh In

Separately, B. Riley raised their price objective on shares of 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 $2.04 billion, a price-to-earnings ratio of -20.80 and a beta of 1.13. The company has a 50-day simple moving average of $14.09 and a two-hundred day simple moving average of $9.94.

Insider Transactions at NextNav

In other NextNav news, 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 transaction of $3,280,000.00. Following the sale, the chief executive officer now directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Arun Raghupathy sold 3,332 shares of the 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 owns 1,087,019 shares of the company’s stock, valued at $19,914,188.08. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,367 shares of company stock worth $3,442,705. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several large investors have recently made changes to their positions in the business. Wolf Hill Capital Management LP grew its holdings in shares of NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after acquiring an additional 269,754 shares during the last quarter. Empyrean Capital Partners LP boosted its position in shares of NextNav by 56.6% in the 2nd 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. purchased a new position in NextNav in the 2nd quarter worth about $1,741,000. Marshall Wace LLP acquired a new stake in NextNav during the 2nd quarter worth about $1,571,000. Finally, Geode Capital Management LLC lifted its stake in NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after buying an additional 158,455 shares in the last quarter. 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.