NextNav (NASDAQ:NN) Stock Price Expected to Rise, B. Riley Analyst Says

NextNav (NASDAQ:NN) had its price objective boosted by B. Riley from $12.00 to $20.00 in a report published on Thursday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

NextNav Price Performance

Shares of NASDAQ:NN traded up $0.07 during midday trading on Thursday, reaching $14.22. 1,156,138 shares of the company were exchanged, compared to its average volume of 860,268. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average is $9.27 and its two-hundred day moving average is $8.36. NextNav has a one year low of $3.55 and a one year high of $17.02. The stock has a market cap of $1.80 billion, a PE ratio of -18.87 and a beta of 0.94.

Insider Buying and Selling

In related news, Director Neil S. Subin bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. The trade was a 4.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NextNav

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in NextNav during the second quarter valued at $50,000. Principal Financial Group Inc. purchased a new stake in NextNav during the second quarter valued at $82,000. Quest Partners LLC purchased a new stake in NextNav during the second quarter valued at $88,000. King Luther Capital Management Corp purchased a new stake in shares of NextNav in the third quarter valued at $90,000. Finally, Wolverine Asset Management LLC raised its stake in shares of NextNav by 323.6% in the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after acquiring an additional 9,248 shares during the period. Institutional investors 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.