NextNav Inc. (NASDAQ:NN) Expected to Post Quarterly Sales of $1.29 Million

Equities analysts predict that NextNav Inc. (NASDAQ:NN – Get Rating) will post sales of $1.29 million for the current quarter, according to Zacks. Two analysts have made estimates for NextNav’s earnings, with the highest sales estimate coming in at $1.50 million and the lowest estimate coming in at $1.08 million. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that NextNav will report full year sales of $14.34 million for the current financial year, with estimates ranging from $12.20 million to $16.48 million. For the next year, analysts anticipate that the firm will post sales of $58.83 million, with estimates ranging from $56.00 million to $61.66 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow NextNav.

NextNav (NASDAQ:NN – Get Rating) last announced its quarterly earnings results on Wednesday, March 23rd. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.50). The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $1.23 million.

A number of equities research analysts have recently weighed in on NN shares. R. F. Lafferty cut their target price on shares of NextNav from $16.00 to $15.00 in a research note on Monday, May 16th. B. Riley cut their target price on shares of NextNav from $17.00 to $14.25 in a research note on Friday, May 13th.

Large investors have recently bought and sold shares of the stock. American Financial Group Inc. bought a new stake in NextNav during the fourth quarter worth about $4,380,000. B. Riley Asset Management LLC purchased a new position in NextNav in the fourth quarter worth about $702,000. B. Riley Financial Inc. purchased a new position in NextNav in the fourth quarter worth about $88,000. Kepos Capital LP purchased a new position in NextNav in the fourth quarter worth about $876,000. Finally, Qube Research & Technologies Ltd purchased a new position in NextNav in the fourth quarter worth about $214,000. 66.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of NN opened at $3.98 on Friday. The firm’s 50-day moving average price is $6.78 and its 200-day moving average price is $7.42. NextNav has a 1-year low of $3.80 and a 1-year high of $15.32.

About NextNav (Get Rating)

NextNav Inc provides next generation global positioning system (GPS) and 3D geolocation services. The company delivers next generation positioning, navigation, and timing solutions through its network-based Pinnacle and TerraPoiNT solutions. Its Pinnacle 3D geolocation service is commercially available in approximately 4,400 cities and towns in the United States; and its TerraPoiNT terrestrial-based encrypted network has deployments in 51 total markets nationally.

Further Reading