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

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

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their price target on shares of 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

The company has a fifty day moving average of $12.85 and a 200-day moving average of $11.73. The firm 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 Buying and Selling

In other news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now owns 1,087,019 shares of the company’s stock, valued at $19,914,188.08. This represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were 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 in the company, valued at $14,397,493.30. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,908 shares of company stock worth $141,851. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of NextNav

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE bought a new stake in shares of NextNav during the 4th quarter valued at $28,000. Russell Investments Group Ltd. increased its stake in NextNav by 112.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,923 shares of the company’s stock worth $30,000 after acquiring an additional 1,018 shares during the last quarter. Golden State Wealth Management LLC bought a new position in NextNav in the 4th quarter worth about $78,000. Wharton Business Group LLC bought a new position in NextNav in the 4th quarter worth about $156,000. Finally, Mission Wealth Management LP bought a new position in NextNav in the 4th quarter worth about $156,000. 79.16% of the stock is currently owned by institutional investors.

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.