Q1 2024 EPS Estimates for NextNav Inc. (NASDAQ:NN) Boosted by Analyst

NextNav Inc. (NASDAQ:NN) – Analysts at B. Riley upped their Q1 2024 earnings per share estimates for shares of NextNav in a research report issued on Wednesday, May 1st. B. Riley analyst M. Crawford now forecasts that the company will earn ($0.17) per share for the quarter, up from their prior forecast of ($0.18). The consensus estimate for NextNav’s current full-year earnings is ($0.58) per share. B. Riley also issued estimates for NextNav’s Q2 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.71) EPS, FY2025 earnings at ($0.71) EPS and FY2026 earnings at ($0.70) EPS.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.19 million. NextNav had a negative net margin of 1,857.46% and a negative return on equity of 81.56%.

NextNav Stock Up 0.3 %

Shares of NASDAQ:NN opened at $9.02 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 9.31 and a quick ratio of 9.31. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -13.67 and a beta of 1.16. The company has a 50 day moving average of $6.52 and a 200-day moving average of $5.08. NextNav has a one year low of $1.92 and a one year high of $9.50.

Institutional Investors Weigh In On NextNav

Institutional investors have recently bought and sold shares of the company. Simplicity Wealth LLC bought a new position in shares of NextNav during the first quarter worth approximately $68,000. Arizona State Retirement System bought a new position in NextNav during the 4th quarter worth $47,000. Spire Wealth Management lifted its holdings in shares of NextNav by 120.0% during the fourth quarter. Spire Wealth Management now owns 11,000 shares of the company’s stock worth $49,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of NextNav in the fourth quarter valued at about $67,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of NextNav in the third quarter valued at about $81,000. Institutional investors own 79.16% of the company’s stock.

Insider Activity

In other NextNav news, SVP Arun Raghupathy sold 23,547 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.23, for a total value of $99,603.81. Following the completion of the sale, the senior vice president now owns 1,130,538 shares of the company’s stock, valued at $4,782,175.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NextNav news, SVP Arun Raghupathy sold 23,547 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $4.23, for a total transaction of $99,603.81. Following the sale, the senior vice president now directly owns 1,130,538 shares in the company, valued at approximately $4,782,175.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil S. Subin acquired 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were bought at an average cost of $4.72 per share, with a total value of $236,000.00. Following the transaction, the director now directly owns 2,115,213 shares of the company’s stock, valued at $9,983,805.36. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 583,000 shares of company stock valued at $2,633,160 and sold 75,000 shares valued at $317,250. 15.70% of the stock is currently owned by company insiders.

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.