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NextNav Inc. (NASDAQ:NN) Climbs 76.10% In 2023; Is It Attractive Enough At $5.90?

In last trading session, NextNav Inc. (NASDAQ:NN) saw 1.77 million shares changing hands with its beta currently measuring 1.66. Company’s recent per share price level of $5.90 trading at $0.06 or 1.03% at ring of the bell on the day assigns it a market valuation of $635.55M. That closing price of NN’s stock is at a discount of -2.88% from its 52-week high price of $6.07 and is indicating a premium of 73.05% from its 52-week low price of $1.59. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.71 million shares which gives us an average trading volume of 338.00K if we extend that period to 3-months.

NextNav Inc. (NASDAQ:NN) trade information

Upright in the green during last session for gaining 1.03%, in the last five days NN remained trading in the green while hitting it’s week-highest on Thursday, 09/14/23 when the stock touched $5.90 price level, adding 2.8% to its value on the day. NextNav Inc.’s shares saw a change of 101.37% in year-to-date performance and have moved 35.63% in past 5-day. NextNav Inc. (NASDAQ:NN) showed a performance of 39.81% in past 30-days. Number of shares sold short was 3.32 million shares which calculate 9.13 days to cover the short interests.

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NextNav Inc. (NN) estimates and forecasts

Statistics highlight that NextNav Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 177.00% of value to its shares in past 6 months, showing an annual growth rate of -40.00% while that of industry is 17.90. Apart from that, the company came lowering its revenue forecast for fiscal year 2023.

NN Dividends

NextNav Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

NextNav Inc. (NASDAQ:NN)’s Major holders

Insiders are in possession of 43.10% of company’s total shares while institution are holding 51.27 percent of that, with stock having share float percentage of 90.11%. Investors also watch the number of corporate investors in a company very closely, which is 51.27% institutions for NextNav Inc. that are currently holding shares of the company. Fortress Investment Group LLC is the top institutional holder at NN for having 14.18 million shares of worth $41.68 million. And as of Jun 29, 2023, it was holding 13.10% of the company’s outstanding shares.

The second largest institutional holder is NEA Management Company, LLC, which was holding about 8.19 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.57% of outstanding shares, having a total worth of $24.08 million.

On the other hand, iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 1.28 million shares of worth $4.11 million or 1.18% of the total outstanding shares. The later fund manager was in possession of 1.19 million shares on Jun 29, 2023, making its stake of worth around $3.49 million in the company or a holder of 1.10% of company’s stock.

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