NextNav (NASDAQ:NN) Issues Quarterly Earnings Results

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

NextNav Stock Performance

NASDAQ:NN traded up $0.26 on Tuesday, hitting $16.87. The stock had a trading volume of 929,016 shares, compared to its average volume of 1,198,229. NextNav has a 1 year low of $10.64 and a 1 year high of $18.25. The firm’s fifty day simple moving average is $15.82 and its two-hundred day simple moving average is $15.22. The stock has a market cap of $2.27 billion, a P/E ratio of -12.98 and a beta of 0.96.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NN. Wall Street Zen raised shares of NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NextNav has an average rating of “Reduce”.

Insiders Place Their Bets

In related news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 1,270,946 shares in the company, valued at approximately $21,491,696.86. This 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 link. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On NextNav

A number of hedge funds have recently modified their holdings of NN. Brevan Howard Capital Management LP purchased a new position in shares of NextNav during the 2nd quarter valued at $314,000. Corient Private Wealth LLC bought a new stake in NextNav in the 2nd quarter valued at about $260,000. Franklin Resources Inc. purchased a new position in NextNav in the 4th quarter valued at approximately $207,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NextNav by 34.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,369 shares of the company’s stock valued at $205,000 after purchasing an additional 3,678 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in NextNav by 6.6% in the 4th quarter. Russell Investments Group Ltd. now owns 10,950 shares of the company’s stock worth $182,000 after purchasing an additional 675 shares during the period. Institutional investors own 79.16% of the company’s stock.

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.