B. Riley Brokers Increase Earnings Estimates for NextNav

NextNav Inc. (NASDAQ:NN) – Analysts at B. Riley boosted 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 post earnings per share of ($0.15) for the quarter, up from their prior estimate 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 Stock Up 6.7 %

NASDAQ NN opened at $10.06 on Monday. The firm has a market cap of $1.27 billion, a PE ratio of -11.84 and a beta of 1.06. NextNav has a 52 week low of $3.55 and a 52 week high of $10.11. The business’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $7.86. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 0.80.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.63 million. During the same quarter in the prior year, the firm earned ($0.15) EPS.

Insider Activity at NextNav

In related news, Director Neil S. Subin acquired 100,000 shares of NextNav stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the acquisition, the director now owns 2,365,213 shares in the company, valued at approximately $16,367,273.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Neil S. Subin acquired 125,000 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Neil S. Subin acquired 100,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $6.92 per share, with a total value of $692,000.00. Following the completion of the transaction, the director now owns 2,365,213 shares of the company’s stock, valued at approximately $16,367,273.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently made changes to their positions in NN. nVerses Capital LLC purchased a new stake in shares of NextNav during the second quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new stake in NextNav in the second quarter valued at $82,000. Quest Partners LLC acquired a new stake in NextNav in the second quarter valued at $88,000. Wolverine Asset Management LLC grew its holdings in NextNav by 323.6% in the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after purchasing an additional 9,248 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in NextNav by 34.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,025 shares of the company’s stock valued at $113,000 after purchasing an additional 4,405 shares during the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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.