Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. NextNav Inc. shares valued at $4,022 were sold by Lantz Robert on Feb 02. At $2.99 per share, Lantz Robert sold 1,345 shares. The insider’s holdings dropped to 13,557 shares worth approximately $38230.74 following the completion of this transaction.
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Also, Knutson David L. sold 10,000 shares, netting a total of over 30,000 in proceeds. Following the sale of shares at $3.00 each, the insider now holds 568,671 shares.
Before that, Pattabiraman Ganesh had sold 8,459 shares from its account. In a trade valued at $23,262, the Senior Vice President traded NextNav Inc. shares for $2.75 each. Upon closing the transaction, the insider’s holdings decreased to 8,459 shares, worth approximately $4.86 million.
As published in a research note from Oppenheimer on August 12, 2022, NextNav Inc. [NN] has been rated down from an Outperform to a Perform. Analysts at R. F. Lafferty started covering the stock with ‘”a Buy”‘ outlook in a report released in early January.
Analyzing NN Stock Performance
On Thursday, NextNav Inc. [NASDAQ: NN] rose 2.55% to $2.82. The stock’s lowest price that day was $2.67, but it reached a high of $2.87 in the same session. During the last five days, there has been a surge of approximately 0.71%. Over the course of the year, NextNav Inc. shares have dropped approximately -3.75%. Shares of the company reached a 52-week high of $3.61 on 02/08/23 and a 52-week low of $2.43 on 01/20/23. A 50-day SMA is recorded $2.93, while a 200-day SMA reached $3.03. Nevertheless, trading volume fell to 1.15 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for NextNav Inc. (NN)
According to the 24-hour chart, there is a support level at 2.70, which, if violated, would cause prices to drop to 2.59. In the upper region, resistance lies at 2.90. The next price resistance is at 2.99. RSI (Relative Strength Index) is 45.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 83.16%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is NextNav Inc. subject to short interest?
Stocks of NextNav Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.75 million shares to 2.44 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.19 million shares. A decline of -30.74% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.43 of the overall float, the days-to-cover ratio (short ratio) decline to 5.43.
Which companies own the most shares of NextNav Inc. (NN)?
According to Koch Industries, Inc. filings, the company currently owns 5,000,000 shares, which is about 4.70% of the total NN shares outstanding. With the completion of the sale transaction, The Future Fund Management Agency’s stake is now worth $14,208,000. B. Riley Capital Management LLC acquire a 37.54% interest valued at $9.14 million while BlackRock Fund Advisors purchased a 822,436 stake. A total of 1,082,204 shares of NextNav Inc. were bought by The Vanguard Group, Inc. during the quarter, and 322,991 were bought by PlusTick Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 1,027,880 shares valued at $3.04 million.
In terms of NextNav Inc. share price expectations, FactSet research, analysts set an average price target of $10.50 in the next 12 months, up nearly 281.82% from the previous closing price of $2.75. Analysts anticipate NextNav Inc. stock to reach $12.00 by 2023, with the lowest price target being $9.00. In spite of this, 3 analysts ranked NextNav Inc. stock as an Overweight at the end of 2023.