NextNav (NASDAQ:NN) Given New $14.25 Price Target at B. Riley

NextNav (NASDAQ:NN – Get Rating) had its price target reduced by B. Riley from $17.00 to $14.25 in a research report sent to investors on Friday morning, The Fly reports.

NASDAQ:NN traded up $0.15 on Friday, reaching $4.97. The company’s stock had a trading volume of 614,599 shares, compared to its average volume of 195,968. The company has a 50 day moving average of $6.99. NextNav has a 12-month low of $4.36 and a 12-month high of $15.32.

NextNav (NASDAQ:NN – Get Rating) last released its quarterly earnings results on Wednesday, March 23rd. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.50). The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $1.23 million. Equities analysts expect that NextNav will post -0.46 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of NN. Oak Management Corp purchased a new position in shares of NextNav in the 4th quarter worth $50,728,000. Victory Capital Management Inc. purchased a new position in NextNav in the fourth quarter valued at about $91,000. Northern Trust Corp purchased a new position in NextNav in the fourth quarter valued at about $302,000. CIBC Asset Management Inc purchased a new position in NextNav in the fourth quarter valued at about $145,000. Finally, Bank of America Corp DE purchased a new position in NextNav in the fourth quarter valued at about $88,000. 66.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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