NextNav Target of Unusually High Options Trading (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw some unusual options trading on Wednesday. Stock traders purchased 10,954 call options on the stock. This is an increase of 99% compared to the typical volume of 5,515 call options.

Wall Street Analyst Weigh In

NN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of NextNav from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

NextNav Stock Performance

Shares of NN opened at $16.36 on Thursday. NextNav has a fifty-two week low of $9.27 and a fifty-two week high of $18.25. The business has a 50-day moving average of $15.81 and a 200 day moving average of $15.18. The firm has a market cap of $2.21 billion, a P/E ratio of -12.58 and a beta of 0.96.

Insider Activity at NextNav

In related news, CAO Sammaad Shams sold 1,576 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the completion of the sale, the chief accounting officer directly owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.70% of the company’s stock.

Institutional Trading of NextNav

Institutional investors have recently modified their holdings of the business. AlphaQuest LLC purchased a new stake in shares of NextNav in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd lifted its position in NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after purchasing an additional 1,721 shares during the last quarter. Clearstead Advisors LLC bought a new stake in NextNav during the third quarter valued at approximately $52,000. FWL Investment Management LLC purchased a new stake in shares of NextNav during the 2nd quarter valued at $70,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of NextNav during the 4th quarter worth $97,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.