Research Analysts Issue Forecasts for NextNav Q3 Earnings

NextNav Inc. (NASDAQ:NN - Free Report) - Stock analysts at B. Riley upped their Q3 2024 earnings estimates for shares of NextNav in a research report issued on Wednesday, October 16th. B. Riley analyst M. Crawford now anticipates that the company will earn ($0.15) per share for the quarter, up from their previous forecast of ($0.16). The consensus estimate for NextNav's current full-year earnings is ($0.80) per share. B. Riley also issued estimates for NextNav's Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.80) EPS, FY2025 earnings at ($0.62) EPS and FY2026 earnings at ($0.65) EPS.

NextNav (NASDAQ:NN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.07). NextNav had a negative return on equity of 134.05% and a negative net margin of 2,181.52%. The company had revenue of $1.11 million during the quarter, compared to analysts' expectations of $1.63 million. During the same quarter in the previous year, the company earned ($0.15) EPS.

NextNav Stock Performance

NASDAQ NN traded up $0.68 on Monday, reaching $9.43. 1,210,560 shares of the stock were exchanged, compared to its average volume of 821,979. The firm has a market capitalization of $1.19 billion, a PE ratio of -11.09 and a beta of 1.06. NextNav has a one year low of $3.55 and a one year high of $9.50. The company's 50-day simple moving average is $7.48 and its two-hundred day simple moving average is $7.82. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80.

Insider Activity

In other NextNav news, Director Neil S. Subin acquired 100,000 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $6.92 per share, with a total value of $692,000.00. Following the completion of the purchase, the director now directly owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Neil S. Subin acquired 125,000 shares of the business's stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $6.93 per share, for a total transaction of $866,250.00. Following the completion of the transaction, the director now directly owns 2,490,213 shares in the company, valued at approximately $17,257,176.09. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil S. Subin bought 100,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $692,000.00. Following the completion of the transaction, the director now directly owns 2,365,213 shares of the company's stock, valued at $16,367,273.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 15.70% of the company's stock.

Institutional Trading of NextNav

Hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its holdings in shares of NextNav by 1.0% in the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company's stock valued at $1,265,000 after acquiring an additional 1,500 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of NextNav by 9.4% in the 1st quarter. Perigon Wealth Management LLC now owns 35,000 shares of the company's stock valued at $230,000 after purchasing an additional 3,000 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of NextNav by 19.0% during the 2nd quarter. CIBC Asset Management Inc now owns 19,652 shares of the company's stock valued at $159,000 after purchasing an additional 3,140 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NextNav by 34.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company's stock valued at $113,000 after buying an additional 4,405 shares during the period. Finally, nVerses Capital LLC purchased a new stake in NextNav during the 2nd quarter valued at $50,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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.