NextNav (NASDAQ:NN) Announces Quarterly Earnings Results

NextNav (NASDAQ:NN) released its quarterly earnings results on Tuesday. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.36), FiscalAI reports. The company had revenue of $0.95 million during the quarter, compared to analysts’ expectations of $0.86 million. NextNav had a negative return on equity of 556.83% and a negative net margin of 3,109.88%.

NextNav Trading Up 1.6%

Shares of NN stock traded up $0.26 during trading hours on Tuesday, hitting $16.87. The company’s stock had a trading volume of 920,880 shares, compared to its average volume of 1,189,662. The company has a 50 day moving average of $15.82 and a 200 day moving average of $15.22. The stock has a market cap of $2.27 billion, a PE ratio of -12.98 and a beta of 0.96. NextNav has a 12-month low of $10.64 and a 12-month high of $18.25.

Analysts Set New Price Targets

A number of research firms recently weighed in on NN. Wall Street Zen raised shares of NextNav from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NextNav currently has an average rating of “Reduce”.

Insider Transactions at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the sale, the chief executive officer owned 1,270,946 shares in the company, valued at approximately $21,491,696.86. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

Several hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC increased its stake in shares of NextNav by 104.7% in the 4th quarter. Corient Private Wealth LLC now owns 35,042 shares of the company’s stock valued at $583,000 after purchasing an additional 17,921 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in NextNav by 57.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 99,942 shares of the company’s stock worth $1,663,000 after purchasing an additional 36,563 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in NextNav in the fourth quarter valued at approximately $481,000. Osterweis Capital Management Inc. purchased a new stake in shares of NextNav in the fourth quarter valued at approximately $109,000. Finally, AQR Capital Management LLC raised its stake in shares of NextNav by 16.4% during the 4th quarter. AQR Capital Management LLC now owns 22,829 shares of the company’s stock worth $380,000 after buying an additional 3,221 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Company Profile

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.