NextNav (NASDAQ:NN) Stock Price Up 6.6% – Here’s Why

by · The Cerbat Gem

NextNav Inc. (NASDAQ:NN – Get Free Report)’s share price was up 6.6% during mid-day trading on Friday . The stock traded as high as $17.91 and last traded at $17.83. Approximately 204,682 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 871,892 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Analysis on NN

NextNav Stock Performance

The stock has a fifty day moving average price of $11.07 and a 200-day moving average price of $8.90. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -23.77 and a beta of 0.94.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of NextNav in the 2nd quarter valued at approximately $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav in the 2nd quarter valued at approximately $82,000. Quest Partners LLC bought a new stake in NextNav during the second quarter worth $88,000. King Luther Capital Management Corp acquired a new stake in NextNav in the third quarter valued at $90,000. Finally, Wolverine Asset Management LLC grew its position in shares of NextNav by 323.6% in the 2nd 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. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Company Profile

(Get Free Report)

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.

Read More