B. Riley Has Optimistic Outlook of NextNav Q3 Earnings

NextNav Inc. (NASDAQ:NNFree 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.

NextNav (NASDAQ:NNGet Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.63 million. NextNav had a negative net margin of 2,181.52% and a negative return on equity of 134.05%. During the same period in the previous year, the firm posted ($0.15) earnings per share.

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

(Get Free Report)

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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Earnings History and Estimates for NextNav (NASDAQ:NN)

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