NextNav (NASDAQ:NN) Announces Quarterly Earnings Results

NextNav (NASDAQ:NN) issued its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02, Zacks reports. NextNav had a negative net margin of 3,109.88% and a negative return on equity of 3,452.23%. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $1.13 million.

NextNav Stock Performance

NN stock traded up $0.66 during trading on Friday, hitting $12.50. 1,362,831 shares of the company traded hands, compared to its average volume of 1,372,905. NextNav has a 1 year low of $9.05 and a 1 year high of $18.54. The company has a market cap of $1.68 billion, a PE ratio of -9.62 and a beta of 0.99. The stock’s 50-day simple moving average is $14.73 and its 200 day simple moving average is $14.40. The company has a debt-to-equity ratio of 32.42, a current ratio of 14.97 and a quick ratio of 14.97.

Hedge Funds Weigh In On NextNav

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in NextNav by 64.4% during the second 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 in the last quarter. Prudential Financial Inc. purchased a new position in NextNav in the second quarter valued at $162,000. Tower Research Capital LLC TRC raised its position in shares of NextNav by 727.8% in the second quarter. Tower Research Capital LLC TRC now owns 10,885 shares of the company’s stock worth $165,000 after acquiring an additional 9,570 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of NextNav during the 2nd quarter worth about $260,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of NextNav during the 2nd quarter valued at about $314,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NN has been the topic of a number of research analyst reports. Zacks Research raised shares of NextNav from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.00.

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.