Brokers Offer Predictions for NextNav Inc.’s Q1 2024 Earnings (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) – Research analysts at B. Riley upped their Q1 2024 EPS estimates for shares of NextNav in a research note issued to investors on Wednesday, May 1st. B. Riley analyst M. Crawford now anticipates that the company will earn ($0.17) per share for the quarter, up from their previous estimate of ($0.18). The consensus estimate for NextNav’s current full-year earnings is ($0.58) per share. B. Riley also issued estimates for NextNav’s Q2 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.71) EPS, FY2025 earnings at ($0.71) EPS and FY2026 earnings at ($0.70) EPS.

NextNav Trading Up 0.6 %

NASDAQ:NN opened at $8.59 on Monday. NextNav has a 12 month low of $2.01 and a 12 month high of $9.50. The company has a current ratio of 9.31, a quick ratio of 9.31 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $955.12 million, a price-to-earnings ratio of -13.02 and a beta of 1.16. The firm has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $5.14.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%. The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. General American Investors Co. Inc. boosted its position in NextNav by 33.2% during the fourth quarter. General American Investors Co. Inc. now owns 1,666,915 shares of the company’s stock worth $7,418,000 after purchasing an additional 415,554 shares during the period. Bank of New York Mellon Corp raised its holdings in NextNav by 8.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 162,405 shares of the company’s stock valued at $835,000 after acquiring an additional 13,280 shares during the period. Ancora Advisors LLC purchased a new stake in shares of NextNav during the third quarter worth $495,000. Swiss National Bank bought a new position in shares of NextNav in the fourth quarter worth $335,000. Finally, Raymond James & Associates purchased a new position in shares of NextNav in the fourth quarter valued at $222,000. 79.16% of the stock is owned by institutional investors.

Insider Buying and Selling at NextNav

In related news, Director Neil S. Subin purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was acquired at an average cost of $4.72 per share, with a total value of $236,000.00. Following the transaction, the director now owns 2,115,213 shares of the company’s stock, valued at approximately $9,983,805.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Robert Lantz sold 8,776 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $4.23, for a total transaction of $37,122.48. Following the completion of the sale, the general counsel now directly owns 90,433 shares of the company’s stock, valued at $382,531.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neil S. Subin purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average price of $4.72 per share, for a total transaction of $236,000.00. Following the completion of the acquisition, the director now directly owns 2,115,213 shares of the company’s stock, valued at approximately $9,983,805.36. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 583,000 shares of company stock worth $2,633,160 and sold 75,000 shares worth $317,250. Company insiders own 11.30% of the company’s stock.

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.