NextNav (NASDAQ:NN) Stock Price Up 4.7% – Here’s Why

NextNav Inc. (NASDAQ:NN)’s stock price rose 4.7% during trading on Monday . The company traded as high as $17.24 and last traded at $16.84. Approximately 1,224,617 shares were traded during trading, an increase of 38% from the average daily volume of 884,557 shares. The stock had previously closed at $16.09.

Wall Street Analyst Weigh In

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

NextNav Price Performance

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -12.95 and a beta of 0.96. The stock has a 50 day moving average price of $15.83 and a two-hundred day moving average price of $15.15.

Insider Transactions at NextNav

In other NextNav news, CAO Sammaad Shams sold 1,576 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $16.24, for a total transaction of $25,594.24. Following the sale, the chief accounting officer directly owned 65,995 shares in the company, valued at $1,071,758.80. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextNav

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its position in NextNav by 104.7% in the 4th quarter. Corient Private Wealth LLC now owns 35,042 shares of the company’s stock valued at $583,000 after purchasing an additional 17,921 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of NextNav by 57.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 99,942 shares of the company’s stock worth $1,663,000 after buying an additional 36,563 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in NextNav in the fourth quarter valued at approximately $481,000. Osterweis Capital Management Inc. acquired a new stake in NextNav in the fourth quarter valued at approximately $109,000. Finally, AQR Capital Management LLC lifted its stake in NextNav by 16.4% in the fourth quarter. AQR Capital Management LLC now owns 22,829 shares of the company’s stock worth $380,000 after acquiring an additional 3,221 shares during the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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.