NextNav (NASDAQ:NN) Hits New 12-Month High at $7.22

NextNav Inc. (NASDAQ:NNGet Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.22 and last traded at $7.22, with a volume of 71357 shares changing hands. The stock had previously closed at $7.03.

NextNav Price Performance

The business’s 50-day moving average is $4.65 and its 200-day moving average is $4.59. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.60.

Insiders Place Their Bets

In related news, CAO Sammaad Shams sold 13,469 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the completion of the transaction, the chief accounting officer now owns 74,122 shares in the company, valued at approximately $313,536.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Sammaad Shams sold 13,469 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $56,973.87. Following the completion of the sale, the chief accounting officer now owns 74,122 shares of the company’s stock, valued at approximately $313,536.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Joseph D. Samberg acquired 483,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average cost of $4.52 per share, with a total value of $2,183,160.00. Following the purchase, the insider now owns 9,800,000 shares in the company, valued at approximately $44,296,000. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 883,000 shares of company stock worth $3,806,160 and sold 96,002 shares worth $421,598. Insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On NextNav

A number of hedge funds have recently added to or reduced their stakes in NN. BlackRock Inc. grew its position in shares of NextNav by 31.0% in the 3rd quarter. BlackRock Inc. now owns 2,979,958 shares of the company’s stock valued at $8,016,000 after buying an additional 704,945 shares during the last quarter. Vanguard Group Inc. grew its position in shares of NextNav by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,351,121 shares of the company’s stock valued at $10,462,000 after buying an additional 35,058 shares during the last quarter. General American Investors Co. Inc. grew its position in shares of NextNav by 33.2% in the 4th quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock valued at $7,418,000 after buying an additional 415,554 shares during the last quarter. State Street Corp grew its position in shares of NextNav by 2.7% in the 1st quarter. State Street Corp now owns 1,055,876 shares of the company’s stock valued at $2,143,000 after buying an additional 27,996 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of NextNav by 10.8% in the 1st quarter. Geode Capital Management LLC now owns 881,603 shares of the company’s stock valued at $1,790,000 after buying an additional 86,057 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Company Profile

(Get Free Report)

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.

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