B. Riley Weighs in on NextNav’s FY2024 Earnings (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) – Investment analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of NextNav in a research note issued to investors on Thursday, November 14th. B. Riley analyst M. Crawford now expects 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 price target 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 6.2 %

Shares of NASDAQ:NN opened at $15.10 on Monday. The firm has a market capitalization of $1.95 billion, a PE ratio of -20.13 and a beta of 0.94. NextNav has a 1 year low of $3.55 and a 1 year high of $17.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.93. The firm’s 50-day moving average is $9.55 and its two-hundred day moving average is $8.43.

Institutional Investors Weigh In On NextNav

Large investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new position in NextNav in the 2nd quarter valued at $50,000. Principal Financial Group Inc. purchased a new stake in shares of NextNav in the second quarter valued at about $82,000. Quest Partners LLC acquired a new position in shares of NextNav during the second quarter worth about $88,000. King Luther Capital Management Corp purchased a new position in NextNav during the third quarter worth about $90,000. Finally, Wolverine Asset Management LLC lifted its position 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 period. 79.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NextNav

In related news, Director Neil S. Subin acquired 100,000 shares of NextNav stock in a transaction dated Friday, August 23rd. The stock was acquired 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 of the company’s stock, valued at $16,367,273.96. This represents a 4.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is owned by corporate insiders.

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.