NextNav (NASDAQ:NN) Issues Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• NextNav missed earnings expectations: The company reported a quarterly loss of $0.24 per share, $0.08 worse than the consensus estimate of a $0.16 loss. Revenue reached $1.15 million, exceeding analyst expectations of $0.92 million.
• Shares rose amid heavy trading: NextNav stock gained $2.40 to $17.83, with trading volume nearly five times its average. The company has a market capitalization of approximately $2.43 billion.
• Analyst sentiment is mixed but leans positive: Recent ratings include Strong Buy, Buy, Hold and Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $32.33. Institutional investors own 79.16% of the company, while insiders have sold shares under pre-arranged plans primarily to cover tax obligations.

NextNav (NASDAQ:NN - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08), FiscalAI reports. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.92 million.

NextNav Price Performance

Shares of NextNav stock traded up $2.40 during trading on Tuesday, hitting $17.83. The company's stock had a trading volume of 10,925,221 shares, compared to its average volume of 2,202,853. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -14.74 and a beta of 1.10. NextNav has a 52 week low of $10.87 and a 52 week high of $24.42. The stock has a 50-day moving average price of $16.67 and a two-hundred day moving average price of $17.38.

Insider Buying and Selling

In other NextNav news, CAO Sammaad Shams sold 2,006 shares of NextNav stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $17.84, for a total transaction of $35,787.04. Following the transaction, the chief accounting officer directly owned 70,944 shares of the company's stock, valued at approximately $1,265,640.96. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 69,853 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $19.92, for a total value of $1,391,471.76. Following the completion of the sale, the chief executive officer owned 1,244,495 shares in the company, valued at $24,790,340.40. This trade represents a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 76,567 shares of company stock valued at $1,522,252 in the last three months. Insiders own 7.80% of the company's stock.

Institutional Trading of NextNav

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NextNav by 8.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,539 shares of the company's stock worth $579,000 after purchasing an additional 3,543 shares during the period. Goldman Sachs Group Inc. raised its stake in NextNav by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company's stock worth $5,705,000 after buying an additional 120,123 shares during the last quarter. Creative Planning lifted its holdings in NextNav by 81.5% in the second quarter. Creative Planning now owns 29,184 shares of the company's stock valued at $444,000 after buying an additional 13,109 shares during the period. JPMorgan Chase & Co. lifted its position in shares of NextNav by 33.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 61,772 shares of the company's stock valued at $939,000 after acquiring an additional 15,565 shares during the period. Finally, Legal & General Group Plc increased its stake in NextNav by 23.3% in the second quarter. Legal & General Group Plc now owns 68,946 shares of the company's stock valued at $1,048,000 after purchasing an additional 13,027 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company's stock.

Analyst Ratings Changes

NN has been the topic of a number of research analyst reports. Odeon Capital Group initiated coverage on NextNav in a report on Monday, July 20th. They issued a "buy" rating and a $22.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of NextNav in a research report on Friday, July 17th. B. Riley Financial reaffirmed a "buy" rating on shares of NextNav in a research note on Thursday, April 23rd. Wall Street Zen upgraded NextNav from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Zacks Research upgraded shares of NextNav from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, NextNav currently has an average rating of "Moderate Buy" and a consensus target price of $32.33.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.

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