NextNav (NASDAQ:NN) Price Target Raised to $20.00

NextNav (NASDAQ:NN) had its price target lifted by B. Riley from $12.00 to $20.00 in a research report released on Thursday morning, Marketbeat reports. B. Riley currently has a buy rating on the stock.

NextNav Stock Up 0.5 %

Shares of NN stock opened at $14.22 on Thursday. The company has a quick ratio of 5.93, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $9.55 and a 200 day moving average price of $8.43. NextNav has a one year low of $3.55 and a one year high of $17.02.

Insider Transactions at NextNav

In other news, Director Neil S. Subin bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the transaction, the director now directly owns 2,365,213 shares of the company’s stock, valued at $16,367,273.96. This trade represents a 4.41 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolf Hill Capital Management LP acquired a new position in NextNav in the first quarter worth $12,195,000. Vanguard Group Inc. raised its holdings in shares of NextNav by 37.7% in the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock valued at $21,307,000 after buying an additional 887,075 shares during the last quarter. Empyrean Capital Partners LP lifted its position in NextNav by 56.6% during the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after buying an additional 238,845 shares in the last quarter. DigitalBridge Group Inc. bought a new stake in NextNav during the 2nd quarter worth about $1,741,000. Finally, Marshall Wace LLP acquired a new stake in NextNav in the 2nd quarter valued at about $1,571,000. 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.