Stock Traders Purchase High Volume of NextNav Call Options (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) was the target of unusually large options trading on Wednesday. Stock investors purchased 10,954 call options on the stock. This is an increase of 99% compared to the typical daily volume of 5,515 call options.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Wall Street Zen lowered NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NextNav has a consensus rating of “Reduce”.

Insider Buying and Selling

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the completion of the transaction, the chief executive officer owned 1,270,946 shares in the company, valued at $21,491,696.86. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total transaction of $25,594.24. Following the completion of the transaction, the chief accounting officer directly owned 65,995 shares of the company’s stock, valued at $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 71,544 shares of company stock valued at $1,208,753 over the last quarter. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Large investors have recently bought and sold shares of the business. AlphaQuest LLC bought a new position in NextNav in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after purchasing an additional 1,721 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in shares of NextNav during the third quarter valued at $52,000. FWL Investment Management LLC bought a new position in shares of NextNav in the second quarter worth about $70,000. Finally, Kemnay Advisory Services Inc. purchased a new position in NextNav in the 4th quarter worth about $97,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Price Performance

NextNav stock opened at $16.56 on Friday. The firm has a market capitalization of $2.23 billion, a P/E ratio of -12.74 and a beta of 0.96. NextNav has a 1-year low of $9.48 and a 1-year high of $18.25. The company’s 50-day moving average is $15.80 and its 200 day moving average is $15.19.

NextNav Company Profile

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.