B. Riley Issues Positive Forecast for NextNav (NASDAQ:NN) Stock Price

NextNav (NASDAQ:NN) had its target price hoisted by research analysts at B. Riley from $12.00 to $20.00 in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target suggests a potential upside of 47.49% from the company’s current price.

NextNav Stock Down 8.9 %

Shares of NASDAQ NN opened at $13.56 on Thursday. The company’s 50 day moving average price is $9.27 and its 200-day moving average price is $8.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93. NextNav has a 52-week low of $3.55 and a 52-week high of $15.30. The company has a market capitalization of $1.71 billion, a P/E ratio of -15.95 and a beta of 0.94.

Insider Transactions at NextNav

In other news, Director Neil S. Subin bought 125,000 shares of the stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NextNav news, Director Neil S. Subin purchased 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $6.93 per share, with a total value of $866,250.00. Following the transaction, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neil S. Subin acquired 100,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the acquisition, the director now directly owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several large investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of NextNav during the second quarter valued at approximately $50,000. Principal Financial Group Inc. purchased a new stake in shares of NextNav during the 2nd quarter valued at $82,000. Quest Partners LLC bought a new stake in shares of NextNav during the 2nd quarter worth $88,000. King Luther Capital Management Corp purchased a new position in shares of NextNav in the 3rd quarter worth about $90,000. Finally, Wolverine Asset Management LLC grew its position in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after buying an additional 9,248 shares during the period. 79.16% of the stock is currently 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.