B. Riley Estimates NextNav's FY2024 Earnings (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN - Free Report) - B. Riley increased their FY2024 earnings per share estimates for NextNav in a report released on Thursday, November 14th. B. Riley analyst M. Crawford now anticipates that the company will post earnings per share of ($0.72) for the year, up from their prior estimate of ($0.80). B. Riley currently has a "Buy" rating and a $20.00 target price on the stock. The consensus estimate for NextNav's current full-year earnings is ($0.74) per share. B. Riley also issued estimates for NextNav's Q4 2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.57) EPS and FY2026 earnings at ($0.56) EPS.

NextNav Stock Up 3.8 %

NASDAQ NN traded up $0.54 during mid-day trading on Monday, reaching $14.76. 1,154,528 shares of the company's stock traded hands, compared to its average volume of 862,358. NextNav has a 1-year low of $3.55 and a 1-year high of $17.02. The company has a fifty day simple moving average of $9.55 and a 200-day simple moving average of $8.43. The company has a current ratio of 5.01, a quick ratio of 5.93 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -19.20 and a beta of 0.94.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Raymond James & Associates grew its position in shares of NextNav by 1.0% in the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company's stock worth $1,265,000 after acquiring an additional 1,500 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of NextNav by 10.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company's stock worth $160,000 after purchasing an additional 1,948 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of NextNav by 19.0% in the 2nd quarter. CIBC Asset Management Inc now owns 19,652 shares of the company's stock worth $159,000 after purchasing an additional 3,140 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NextNav by 34.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company's stock worth $113,000 after purchasing an additional 4,405 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of NextNav in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 79.16% of the company's stock.

Insider Buying and Selling at NextNav

In other news, Director Neil S. Subin bought 100,000 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the transaction, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. The trade was a 4.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 15.70% of the stock is owned by insiders.

About NextNav

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.