B. Riley Research Analysts Raise Earnings Estimates for NextNav Inc. (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) – Research analysts at B. Riley upped their Q1 2024 EPS estimates for shares of NextNav in a report released on Wednesday, May 1st. B. Riley analyst M. Crawford now expects that the company will post earnings per share of ($0.17) for the quarter, up from their prior forecast 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 Price Performance

Shares of NASDAQ NN opened at $8.54 on Monday. The stock has a 50 day moving average of $6.61 and a two-hundred day moving average of $5.11. The stock has a market cap of $949.56 million, a P/E ratio of -12.94 and a beta of 1.16. NextNav has a twelve month low of $2.01 and a twelve 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.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.19 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC purchased a new position in NextNav during the first quarter worth $68,000. Arizona State Retirement System acquired a new stake in shares of NextNav during the fourth quarter worth $47,000. Spire Wealth Management lifted its position in NextNav by 120.0% during the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after buying an additional 6,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of NextNav during the 4th quarter valued at about $67,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of NextNav during the 3rd quarter worth about $81,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NextNav news, CAO Sammaad Shams sold 13,469 shares of the company’s 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 $56,973.87. Following the completion of the sale, the chief accounting officer now directly owns 74,122 shares of the company’s stock, valued at approximately $313,536.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Sammaad Shams sold 13,469 shares of the company’s 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 $56,973.87. Following the completion of the sale, the chief accounting officer now owns 74,122 shares in the company, valued at $313,536.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christian D. Gates sold 29,208 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $123,549.84. Following the completion of the transaction, the chief financial officer now directly owns 849,816 shares in the company, valued at $3,594,721.68. The disclosure for this sale can be found here. In the last three months, insiders have acquired 583,000 shares of company stock valued at $2,633,160 and have sold 75,000 shares valued at $317,250. 15.70% of the stock is currently owned by insiders.

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.