What is B. Riley’s Estimate for NextNav FY2024 Earnings?

NextNav Inc. (NASDAQ:NN) – Equities researchers at B. Riley lifted their FY2024 earnings per share estimates for shares of NextNav in a note issued to investors on Thursday, November 14th. B. Riley analyst M. Crawford now anticipates that the company will earn ($0.72) per share for the year, up from their prior forecast 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 %

NN opened at $15.10 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.93 and a current ratio of 5.01. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -20.13 and a beta of 0.94. NextNav has a one year low of $3.55 and a one year high of $17.02. The business’s fifty day moving average is $9.55 and its two-hundred day moving average is $8.43.

Insider Transactions at NextNav

In related news, Director Neil S. Subin bought 125,000 shares of NextNav stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now owns 2,490,213 shares in the company, valued at $17,257,176.09. This represents a 5.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On NextNav

Several hedge funds have recently bought and sold shares of NN. Geode Capital Management LLC boosted its stake in shares of NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock valued at $12,672,000 after acquiring an additional 158,455 shares during the last quarter. Barclays PLC lifted its holdings in NextNav by 29.2% in the 3rd quarter. Barclays PLC now owns 291,964 shares of the company’s stock valued at $2,187,000 after purchasing an additional 66,039 shares in the last quarter. State Street Corp boosted its stake in shares of NextNav by 1.1% during the 3rd quarter. State Street Corp now owns 2,010,131 shares of the company’s stock worth $15,056,000 after purchasing an additional 22,152 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of NextNav during the third quarter worth about $1,060,000. Finally, 272 Capital LP acquired a new position in shares of NextNav in the third quarter valued at approximately $756,000. Hedge funds and other institutional investors 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.