NextNav Target of Unusually Large Options Trading (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the recipient of unusually large options trading on Monday. Traders acquired 5,634 call options on the stock. This represents an increase of approximately 164% compared to the average volume of 2,133 call options.

Analyst Upgrades and Downgrades

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

NextNav Trading Down 16.7 %

NASDAQ NN traded down $2.69 on Monday, hitting $13.42. The company’s stock had a trading volume of 3,668,546 shares, compared to its average volume of 1,587,293. The firm has a market cap of $1.75 billion, a PE ratio of -17.89 and a beta of 1.13. The company’s 50-day moving average is $15.43 and its 200 day moving average is $10.52. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav has a 1-year low of $3.55 and a 1-year high of $18.54.

Insiders Place Their Bets

In other news, CEO Mariam Sorond sold 200,000 shares of the 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 sale, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at approximately $25,815,518.80. This represents a 11.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares of the company’s stock, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,367 shares of company stock worth $3,442,705 in the last 90 days. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of NextNav by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 546,806 shares of the company’s stock worth $4,096,000 after acquiring an additional 57,780 shares in the last quarter. 272 Capital LP acquired a new position in NextNav in the third quarter valued at approximately $756,000. Wittenberg Investment Management Inc. bought a new position in shares of NextNav during the 3rd quarter worth approximately $366,000. Paloma Partners Management Co acquired a new stake in shares of NextNav during the 3rd quarter worth approximately $1,060,000. Finally, Geode Capital Management LLC grew its holdings in NextNav by 10.3% in the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after purchasing an additional 158,455 shares during the period. 79.16% of the stock is owned by 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.