NextNav (NASDAQ:NN) Price Target Raised to $20.00 at B. Riley

NextNav (NASDAQ:NN) had its price target raised by B. Riley from $12.00 to $20.00 in a research report sent to investors on Thursday, MarketBeat.com reports. B. Riley currently has a buy rating on the stock.

NextNav Stock Performance

NASDAQ NN opened at $14.22 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.93. The company has a market capitalization of $1.83 billion, a P/E ratio of -18.96 and a beta of 0.94. NextNav has a 1-year low of $3.55 and a 1-year high of $17.02. The business has a 50 day moving average price of $9.55 and a 200 day moving average price of $8.43.

Insider Buying and Selling at NextNav

In other NextNav news, Director Neil S. Subin bought 100,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. The trade was a 4.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NextNav

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in NextNav by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after acquiring an additional 158,455 shares during the period. Barclays PLC increased its holdings in shares of NextNav by 29.2% during the third quarter. Barclays PLC now owns 291,964 shares of the company’s stock valued at $2,187,000 after purchasing an additional 66,039 shares during the period. State Street Corp increased its holdings in shares of NextNav by 1.1% during the third quarter. State Street Corp now owns 2,010,131 shares of the company’s stock valued at $15,056,000 after purchasing an additional 22,152 shares during the period. Paloma Partners Management Co acquired a new stake in NextNav in the third quarter worth about $1,060,000. Finally, 272 Capital LP bought a new position in NextNav in the 3rd quarter valued at about $756,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

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.