NextNav (NASDAQ:NN) Trading 6.6% Higher – Still a Buy?

NextNav Inc. (NASDAQ:NN) rose 6.6% during trading on Friday . The stock traded as high as $17.91 and last traded at $17.83. Approximately 204,682 shares were traded during trading, a decline of 77% from the average daily volume of 871,892 shares. The stock had previously closed at $16.73.

Analyst Upgrades and Downgrades

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

NextNav Stock Up 3.8 %

The firm has a market cap of $2.24 billion, a P/E ratio of -23.77 and a beta of 0.94. The firm’s fifty day moving average is $11.07 and its 200 day moving average is $8.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

Institutional Investors Weigh In On NextNav

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates boosted its holdings in shares of NextNav by 1.0% during the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock valued at $1,265,000 after acquiring an additional 1,500 shares in the last quarter. Van ECK Associates Corp raised its stake in NextNav by 10.0% during the third quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock worth $160,000 after buying an additional 1,948 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in NextNav by 19.0% in the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock valued at $159,000 after buying an additional 3,140 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in NextNav by 34.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock worth $113,000 after acquiring an additional 4,405 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of NextNav in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.