NextNav Inc. (NASDAQ:NNAVW) Sees Significant Growth in Short Interest

NextNav Inc. (NASDAQ:NNAVW) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 85,600 shares, an increase of 229.2% from the February 29th total of 26,000 shares. Based on an average daily volume of 38,200 shares, the short-interest ratio is currently 2.2 days.

NextNav Trading Down 0.5 %

NASDAQ NNAVW traded down $0.01 on Wednesday, reaching $2.07. The company had a trading volume of 128,385 shares, compared to its average volume of 44,914. The stock’s 50 day moving average is $1.17 and its 200-day moving average is $1.09. NextNav has a 52 week low of $0.55 and a 52 week high of $2.10.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NextNav stock. Barclays PLC grew its holdings in NextNav Inc. (NASDAQ:NNAVW) by 25.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,254,791 shares of the company’s stock after purchasing an additional 659,022 shares during the period. Barclays PLC’s holdings in NextNav were worth $1,212,000 as of its most recent SEC filing.

NextNav Company Profile

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, which is based on three primary components comprising an altitude station network, device software, and secure cloud services platform.