Short Interest in NextNav Inc. (NASDAQ:NNAVW) Rises By 2,643.9%

NextNav Inc. (NASDAQ:NNAVW) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 41,653 shares, a growth of 2,643.9% from the May 14th total of 1,518 shares. Based on an average daily volume of 168,148 shares, the days-to-cover ratio is currently 0.2 days.

NextNav Stock Performance

Shares of NASDAQ NNAVW traded up $0.81 during trading hours on Wednesday, hitting $10.09. 99,443 shares of the stock were exchanged, compared to its average volume of 97,490. The company’s fifty day simple moving average is $8.81 and its two-hundred day simple moving average is $7.48. NextNav has a 1-year low of $3.90 and a 1-year high of $13.41.

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.