Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. NextNav Inc shares valued at $236,000 were purchased by SUBIN NEIL S on Mar 20 ’24. At $4.72 per share, SUBIN NEIL S acquired 50,000 shares. The insider’s holdings grew to 2,115,213 shares worth approximately $16.08 million following the completion of this transaction.
Also, SUBIN NEIL S purchased 50,000 shares, netting a total of over 238,000 in proceeds. Following the buying of shares at $4.76 each, the insider now holds 2,065,213 shares.
Before that, Lantz Robert had sold 2,032 shares from its account. In a trade valued at $9,652, the General Counsel traded NextNav Inc shares for $4.75 each. Upon closing the transaction, the insider’s holdings decreased to 2,032 shares, worth approximately $0.67 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
During the last five days, there has been a surge of approximately 3.12%. Over the course of the year, NextNav Inc shares have jumped approximately 70.79%. Shares of the company reached a 52-week high of $7.95 on 04/08/24 and a 52-week low of $3.55 on 03/07/24. A 50-day SMA is recorded $5.03, while a 200-day SMA reached $4.42. Nevertheless, trading volume fell to 0.66 million shares from 0.67 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 7.35, which, if violated, would cause prices to drop to 7.09. In the upper region, resistance lies at 7.76. The next price resistance is at 7.91. RSI (Relative Strength Index) is 70.67 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.70, which suggests the price will decrease in the coming days. Percent R is at 11.78%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is NextNav Inc subject to short interest?
Stocks of NextNav Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.67 million shares to 8.9 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.23 million shares. A jump of 7.53% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.72 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.72.
