NextNav (NASDAQ:NN) Issues Quarterly Earnings Results

NextNav (NASDAQ:NN) posted its quarterly earnings results on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13), Zacks reports. The firm had revenue of $0.95 million for 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 15.2%

Shares of NN traded up $2.56 on Wednesday, reaching $19.43. The company’s stock had a trading volume of 1,892,014 shares, compared to its average volume of 1,204,280. NextNav has a twelve month low of $10.64 and a twelve month high of $19.48. The stock has a market capitalization of $2.62 billion, a PE ratio of -14.95 and a beta of 0.96. The firm has a fifty day moving average of $15.85 and a 200-day moving average of $15.21.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of NextNav from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Insider Transactions at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the completion of the sale, the chief executive officer directly owned 1,270,946 shares of the company’s stock, valued at approximately $21,491,696.86. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Trading of NextNav

A number of hedge funds have recently bought and sold shares of NN. Caitong International Asset Management Co. Ltd raised its stake in NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after acquiring an additional 1,721 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of NextNav in the fourth quarter worth about $97,000. Osterweis Capital Management Inc. bought a new stake in shares of NextNav in the fourth quarter valued at approximately $109,000. Kestra Advisory Services LLC purchased a new stake in shares of NextNav during the 4th quarter valued at approximately $116,000. Finally, BNP Paribas Financial Markets boosted its holdings in NextNav by 64.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,918 shares of the company’s stock worth $136,000 after buying an additional 3,493 shares during the period. 79.16% of the stock is currently owned by 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.