NextNav Sees Unusually High Options Volume (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw unusually large options trading activity on Monday. Investors purchased 5,634 call options on the company. This represents an increase of approximately 164% compared to the average volume of 2,133 call options.

NextNav Price Performance

Shares of NN stock opened at $13.51 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. The company has a market capitalization of $1.76 billion, a P/E ratio of -18.01 and a beta of 1.17. The company’s 50-day simple moving average is $15.47 and its two-hundred day simple moving average is $10.58. NextNav has a one year low of $3.55 and a one year high of $18.54.

Analyst Ratings Changes

Separately, B. Riley boosted their price objective 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.

Insider Buying and Selling

In other NextNav news, CEO Mariam Sorond sold 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total value of $3,280,000.00. Following the completion of the transaction, the chief executive officer now owns 1,574,117 shares of the company’s stock, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christian D. Gates sold 3,918 shares of NextNav stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the sale, the chief financial officer now owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,367 shares of company stock worth $3,442,705 in the last quarter. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of NextNav by 47.9% during the second quarter. Bank of New York Mellon Corp now owns 217,143 shares of the company’s stock valued at $1,761,000 after buying an additional 70,343 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of NextNav in the 2nd quarter worth $82,000. CIBC Asset Management Inc grew its stake in NextNav by 19.0% during the 2nd quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock worth $159,000 after buying an additional 3,140 shares during the last quarter. Rhumbline Advisers grew its stake in NextNav by 27.8% during the 2nd quarter. Rhumbline Advisers now owns 95,536 shares of the company’s stock worth $775,000 after buying an additional 20,796 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in NextNav during the 2nd quarter valued at about $88,000. 79.16% of the stock is owned by hedge funds and other 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.