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

NextNav Inc. (NASDAQ:NN) saw unusually large options trading activity on Monday. Traders acquired 5,634 call options on the company. This is an increase of 164% compared to the typical daily volume of 2,133 call options.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at $19,914,188.08. This represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,367 shares of company stock valued at $3,442,705 in the last ninety days. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NN. Wolf Hill Capital Management LP grew its position in shares of NextNav by 14.6% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after acquiring an additional 269,754 shares during the period. State Street Corp boosted its position in NextNav by 1.1% during the third quarter. State Street Corp now owns 2,010,131 shares of the company’s stock worth $15,056,000 after purchasing an additional 22,152 shares in the last quarter. Geode Capital Management LLC grew its holdings in NextNav by 10.3% in the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after purchasing an additional 158,455 shares during the period. Empyrean Capital Partners LP increased its position in shares of NextNav by 56.6% in the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after buying an additional 238,845 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NextNav by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after buying an additional 57,780 shares during the period. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Stock Performance

Shares of NASDAQ NN opened at $13.64 on Wednesday. The company has a 50 day simple moving average of $15.51 and a two-hundred day simple moving average of $10.62. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -18.19 and a beta of 1.17. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav has a 12 month low of $3.55 and a 12 month high of $18.54.

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.