NextNav (NASDAQ:NN) Reaches New 52-Week High – Here’s What Happened

NextNav Inc. (NASDAQ:NN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $17.10 and last traded at $16.73, with a volume of 111719 shares. The stock had previously closed at $16.14.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted 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.

NextNav Stock Up 4.2 %

The company has a market cap of $2.16 billion, a price-to-earnings ratio of -22.52 and a beta of 0.94. The stock’s 50-day moving average is $10.71 and its 200-day moving average is $8.79. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81.

Institutional Trading of NextNav

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in NextNav in the 2nd quarter valued at $50,000. Principal Financial Group Inc. bought a new position in shares of NextNav in the second quarter valued at $82,000. Quest Partners LLC bought a new position in shares of NextNav in the second quarter valued at $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav during the third quarter valued at about $90,000. Finally, Wolverine Asset Management LLC increased its position in shares of NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after acquiring an additional 9,248 shares in the last quarter. 79.16% of the stock is owned by institutional investors.

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.