B. Riley Issues Optimistic Estimate for NextNav Earnings

NextNav Inc. (NASDAQ:NN) – Research analysts at B. Riley raised their Q3 2024 earnings per share (EPS) estimates for shares of NextNav in a report released on Wednesday, October 16th. B. Riley analyst M. Crawford now forecasts 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 (NASDAQ:NN) last posted its quarterly earnings data 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 firm had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.63 million. During the same quarter last year, the firm earned ($0.15) EPS.

NextNav Stock Performance

Shares of NN opened at $9.43 on Monday. The stock has a 50-day moving average of $7.53 and a two-hundred day moving average of $7.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.93 and a current ratio of 5.93. The stock has a market cap of $1.19 billion, a P/E 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.

Insider Buying and Selling

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

Hedge Funds Weigh In On NextNav

A number of hedge funds have recently made changes to their positions in NN. Vanguard Group Inc. increased its stake in shares of NextNav by 37.7% in the 1st quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after acquiring an additional 887,075 shares during the last quarter. Wolf Hill Capital Management LP raised its holdings in NextNav by 14.6% in the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after acquiring an additional 269,754 shares in the last quarter. Empyrean Capital Partners LP lifted its position in shares of NextNav by 56.6% during the 2nd quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after purchasing an additional 238,845 shares during the last quarter. Ingalls & Snyder LLC lifted its holdings in NextNav by 20.7% during the 2nd quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock worth $2,408,000 after buying an additional 51,000 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in NextNav by 4.7% in the first quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock valued at $1,749,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

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.