NextNav (NASDAQ:NN) Reaches New 1-Year High – Should You Buy?

NextNav Inc. (NASDAQ:NN) reached a new 52-week high on Tuesday . The stock traded as high as $17.10 and last traded at $16.73, with a volume of 111719 shares changing hands. The stock had previously closed at $16.14.

Wall Street Analyst Weigh In

Separately, B. Riley upped their target price on NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

NextNav Trading Up 4.2 %

The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -22.52 and a beta of 0.94. The firm’s 50-day moving average is $10.71 and its 200 day moving average is $8.79.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NN. nVerses Capital LLC bought a new position in NextNav during the 2nd quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the second quarter worth $82,000. Quest Partners LLC bought a new position in NextNav during the second quarter worth $88,000. King Luther Capital Management Corp acquired a new position in NextNav in the third quarter valued at $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in NextNav by 323.6% in 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 owned by institutional investors.

About NextNav

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.