B. Riley Estimates NextNav’s FY2024 Earnings (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN) – Equities researchers at B. Riley upped their FY2024 earnings per share (EPS) estimates for shares of NextNav in a report released on Thursday, November 14th. B. Riley analyst M. Crawford now expects that the company will earn ($0.72) per share for the year, up from their prior estimate of ($0.80). B. Riley has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for NextNav’s current full-year earnings is ($0.74) per share. B. Riley also issued estimates for NextNav’s Q4 2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.57) EPS and FY2026 earnings at ($0.56) EPS.

NextNav Price Performance

Shares of NN opened at $14.22 on Monday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -18.96 and a beta of 0.94. NextNav has a twelve month low of $3.55 and a twelve month high of $17.02. The company has a 50 day moving average of $9.55 and a 200-day moving average of $8.43. The company has a quick ratio of 5.93, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

Institutional Investors Weigh In On NextNav

Hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in NextNav during the 2nd quarter valued at $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the second quarter worth $82,000. Quest Partners LLC acquired a new stake in shares of NextNav during the second quarter worth $88,000. King Luther Capital Management Corp acquired a new stake in shares of NextNav during the third quarter worth $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after buying an additional 9,248 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

Insider Transactions at NextNav

In related news, Director Neil S. Subin acquired 100,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $6.92 per share, with a total value of $692,000.00. Following the acquisition, the director now owns 2,365,213 shares in the company, valued at $16,367,273.96. This represents a 4.41 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.