Van ECK Associates Corp Has $1.23 Million Stock Holdings in NextNav Inc. (NASDAQ:NN)

Van ECK Associates Corp increased its holdings in shares of NextNav Inc. (NASDAQ:NN) by 268.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,815 shares of the company’s stock after buying an additional 57,403 shares during the period. Van ECK Associates Corp owned about 0.06% of NextNav worth $1,226,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NN. Charles Schwab Investment Management Inc. lifted its position 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 valued at $4,096,000 after acquiring an additional 57,780 shares during the period. 272 Capital LP purchased a new position in shares of NextNav in the 3rd quarter worth about $756,000. Geode Capital Management LLC boosted its holdings in shares of NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after buying an additional 158,455 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of NextNav in the 3rd quarter worth about $1,060,000. Finally, Wittenberg Investment Management Inc. purchased a new stake in NextNav during the third quarter valued at about $366,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Trading Down 5.2 %

Shares of NextNav stock opened at $11.80 on Friday. The company’s 50-day moving average price is $13.58 and its 200-day moving average price is $11.55. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -15.73 and a beta of 1.13. 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 Inc. has a 12-month low of $3.55 and a 12-month high of $18.54.

Insider Activity at NextNav

In related news, SVP Arun Raghupathy sold 3,332 shares of NextNav stock in a transaction on 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 of the company’s stock, valued at $19,914,188.08. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,908 shares of company stock valued at $3,421,851 over the last three months. 15.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

NextNav 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.