NextNav Inc. (NASDAQ:NN – Free Report) – Equities researchers at B. Riley upped their Q3 2024 earnings per share estimates for shares of NextNav in a research report issued to clients and investors on Wednesday, October 16th. B. Riley analyst M. Crawford now anticipates that the company will post earnings per share of ($0.15) for the quarter, up from their previous estimate of ($0.16). The consensus estimate for NextNav’s current full-year earnings is ($0.80) per share. B. Riley also issued estimates for NextNav’s Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.80) EPS, FY2025 earnings at ($0.62) EPS and FY2026 earnings at ($0.65) EPS.
NextNav Trading Up 6.1 %
NN opened at $8.75 on Monday. NextNav has a 52-week low of $3.55 and a 52-week high of $9.50. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $7.48 and its 200 day simple moving average is $7.82.
Institutional Investors Weigh In On NextNav
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in NextNav by 37.7% during the first quarter. Vanguard Group Inc. now owns 3,238,196 shares of the company’s stock worth $21,307,000 after purchasing an additional 887,075 shares during the last quarter. Wolf Hill Capital Management LP lifted its stake in NextNav by 14.6% during the second quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock worth $17,218,000 after purchasing an additional 269,754 shares during the last quarter. Empyrean Capital Partners LP lifted its stake in NextNav by 56.6% during the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock worth $5,359,000 after purchasing an additional 238,845 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in NextNav by 20.7% during the second quarter. Ingalls & Snyder LLC now owns 296,900 shares of the company’s stock worth $2,408,000 after purchasing an additional 51,000 shares during the last quarter. Finally, Ancora Advisors LLC lifted its stake in NextNav by 4.7% during the first quarter. Ancora Advisors LLC now owns 265,797 shares of the company’s stock worth $1,749,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.
Insider Buying and Selling at NextNav
In other news, Director Neil S. Subin bought 125,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Neil S. Subin bought 125,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the completion of the transaction, the director now owns 2,490,213 shares of the company’s stock, valued at $17,257,176.09. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Neil S. Subin bought 100,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $6.92 per share, for a total transaction of $692,000.00. Following the transaction, the director now directly owns 2,365,213 shares of the company’s stock, valued at $16,367,273.96. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 15.70% 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.
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