NextNav (NASDAQ:NN) Stock Price Down 9.1% – Time to Sell?

NextNav Inc. (NASDAQ:NN)’s share price dropped 9.1% during mid-day trading on Tuesday . The company traded as low as $9.12 and last traded at $9.05. Approximately 374,356 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,273,295 shares. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

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

NextNav Stock Performance

The stock’s 50-day moving average price is $12.85 and its 200-day moving average price is $11.73. The company has a market cap of $1.23 billion, a P/E ratio of -12.53 and a beta of 1.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01.

Insider Activity at NextNav

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 approximately $19,914,188.08. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christian D. Gates sold 3,918 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total value of $69,152.70. Following the transaction, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,908 shares of company stock valued at $141,851 over the last quarter. 15.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fleming James B JR bought a new stake in shares of NextNav during the fourth quarter worth about $80,618,000. Susquehanna Advisors Group Inc. bought a new stake in shares of NextNav during the fourth quarter worth about $67,648,000. Vanguard Group Inc. grew its holdings in shares of NextNav by 23.3% during the fourth quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company’s stock worth $62,505,000 after purchasing an additional 759,775 shares during the last quarter. Invesco Ltd. grew its holdings in shares of NextNav by 2,461.2% during the fourth quarter. Invesco Ltd. now owns 712,385 shares of the company’s stock worth $11,085,000 after purchasing an additional 684,571 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of NextNav by 466.5% during the fourth quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock worth $10,238,000 after purchasing an additional 541,842 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.