Short Interest in NextNav Inc. (NASDAQ:NNAVW) Expands By 142.0%

NextNav Inc. (NASDAQ:NNAVW) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 4,336 shares, an increase of 142.0% from the March 15th total of 1,792 shares. Based on an average daily volume of 56,957 shares, the days-to-cover ratio is presently 0.1 days.

NextNav Stock Up 6.9%

NextNav stock traded up $0.42 during midday trading on Monday, hitting $6.42. 42,381 shares of the stock were exchanged, compared to its average volume of 65,343. NextNav has a 52-week low of $3.84 and a 52-week high of $9.37. The business’s 50-day moving average price is $6.96 and its 200-day moving average price is $6.22.

NextNav Company Profile

NextNav is a technology company that specializes in next-generation location services, offering a precision positioning platform designed to deliver accurate latitude, longitude and altitude information across a variety of environments. Leveraging a network of ground-based transmitters and advanced signal-processing techniques, NextNav’s system extends the capabilities of traditional satellite-based positioning to deliver reliable indoor and urban canyon coverage. Its service is architected to support applications ranging from emergency response and public safety to asset tracking, IoT, drones and augmented reality.

At the core of NextNav’s offering is its Pinnacle positioning system, which provides z-axis (vertical) location data with floor-level accuracy.