B. Riley Comments on NextNav Inc.'s Q1 2024 Earnings (NASDAQ:NN)

NextNav Inc. (NASDAQ:NN - Free Report) - Stock analysts at B. Riley boosted their Q1 2024 earnings estimates for NextNav in a research note issued on Wednesday, May 1st. B. Riley analyst M. Crawford now expects that the company will post earnings per share of ($0.17) for the quarter, up from their previous estimate 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 Stock Down 5.3 %

Shares of NASDAQ:NN traded down $0.48 during midday trading on Monday, reaching $8.54. The company's stock had a trading volume of 815,881 shares, compared to its average volume of 912,588. The company has a quick ratio of 9.31, a current ratio of 9.31 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $6.61 and a 200-day moving average of $5.11. The firm has a market capitalization of $949.56 million, a P/E ratio of -12.94 and a beta of 1.16. NextNav has a 12-month low of $2.01 and a 12-month high of $9.50.

NextNav (NASDAQ:NN - Get Free Report) last posted its earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). NextNav had a negative return on equity of 81.56% and a negative net margin of 1,857.46%. The firm had revenue of $1.21 million for the quarter, compared to analysts' expectations of $1.19 million.

Insider Activity

In other news, CAO Sammaad Shams sold 13,469 shares of the 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 $56,973.87. Following the sale, the chief accounting officer now owns 74,122 shares in the company, valued at $313,536.06. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Sammaad Shams sold 13,469 shares of the 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 $56,973.87. Following the sale, the chief accounting officer now owns 74,122 shares in the company, valued at $313,536.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Neil S. Subin acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of $4.72 per share, for a total transaction of $236,000.00. Following the transaction, the director now 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. Over the last 90 days, insiders have bought 583,000 shares of company stock worth $2,633,160 and have sold 75,000 shares worth $317,250. Corporate insiders own 11.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NN. Perigon Wealth Management LLC raised its position in NextNav by 41.6% in the fourth quarter. Perigon Wealth Management LLC now owns 32,000 shares of the company's stock worth $142,000 after acquiring an additional 9,400 shares during the period. General American Investors Co. Inc. raised its position in shares of NextNav by 55.9% during the 3rd quarter. General American Investors Co. Inc. now owns 1,251,361 shares of the company's stock valued at $6,432,000 after purchasing an additional 448,884 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of NextNav during the 3rd quarter valued at $156,000. Arizona State Retirement System bought a new stake in shares of NextNav during the 4th quarter valued at $47,000. Finally, Kolinsky Wealth Management LLC bought a new stake in shares of NextNav during the 3rd quarter valued at $95,000. Institutional investors own 79.16% of the company's stock.

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.