NextNav Inc. (NASDAQ:NNAVW) Sees Large Drop in Short Interest

NextNav Inc. (NASDAQ:NNAVW) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 1,792 shares, a decrease of 18.7% from the February 26th total of 2,205 shares. Based on an average daily volume of 52,657 shares, the days-to-cover ratio is currently 0.0 days.

NextNav Stock Performance

NASDAQ NNAVW traded up $0.28 during mid-day trading on Wednesday, hitting $6.61. The company’s stock had a trading volume of 1,751 shares, compared to its average volume of 69,659. The company’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $6.26. NextNav has a twelve month low of $3.84 and a twelve month high of $9.37.

About NextNav

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.