NextNav Target of Unusually Large Options Trading (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) saw unusually large options trading activity on Wednesday. Stock investors acquired 10,954 call options on the stock. This is an increase of approximately 99% compared to the average daily volume of 5,515 call options.

Insiders Place Their Bets

In related news, CAO Sammaad Shams sold 1,576 shares of NextNav stock in a transaction that occurred 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 sale, the chief accounting officer owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in NextNav by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after purchasing an additional 573,214 shares during the period. Susquehanna Advisors Group Inc. grew its holdings in shares of NextNav by 1.4% in the fourth quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company’s stock worth $91,226,000 after purchasing an additional 74,995 shares during the last quarter. Geode Capital Management LLC increased its stake in NextNav by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company’s stock worth $37,754,000 after buying an additional 100,058 shares during the period. State Street Corp lifted its holdings in NextNav by 1.9% during the 4th quarter. State Street Corp now owns 2,171,877 shares of the company’s stock valued at $36,140,000 after buying an additional 40,762 shares in the last quarter. Finally, Plustick Management LLC lifted its holdings in NextNav by 1.3% during the 4th quarter. Plustick Management LLC now owns 2,065,818 shares of the company’s stock valued at $34,375,000 after buying an additional 25,818 shares in the last quarter. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

NextNav Stock Performance

NN stock traded down $0.37 during trading on Wednesday, hitting $16.69. 603,737 shares of the company’s stock traded hands, compared to its average volume of 1,218,391. NextNav has a 52 week low of $9.27 and a 52 week high of $18.25. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -12.84 and a beta of 0.96. The business has a fifty day simple moving average of $15.82 and a 200 day simple moving average of $15.17.

Analyst Upgrades and Downgrades

NN has been the topic of several recent analyst reports. 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 report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NextNav currently has an average rating of “Reduce”.

About NextNav

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.