NextNav (NASDAQ:NN) Posts Quarterly Earnings Results, Hits Expectations

NextNav (NASDAQ:NN) announced its earnings results on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13), Zacks reports. The firm 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 Price Performance

Shares of NN stock traded up $2.68 during midday trading on Wednesday, hitting $19.55. The company had a trading volume of 1,988,846 shares, compared to its average volume of 1,207,780. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -15.06 and a beta of 0.96. The company’s 50 day simple moving average is $15.85 and its 200 day simple moving average is $15.21. NextNav has a 52-week low of $10.64 and a 52-week high of $19.48.

Wall Street Analyst Weigh In

Several analysts recently commented on NN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of NextNav from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Insider Activity at NextNav

In related news, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction 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 $21,491,696.86. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NextNav

Large investors have recently bought and sold shares of the company. Susquehanna Advisors Group Inc. lifted its stake in shares of NextNav by 1.4% in the 4th quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company’s stock worth $91,226,000 after acquiring an additional 74,995 shares during the period. Geode Capital Management LLC increased its stake in shares of NextNav by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company’s stock worth $37,754,000 after acquiring an additional 100,058 shares during the period. State Street Corp increased its stake in shares of NextNav by 1.9% during the fourth quarter. State Street Corp now owns 2,171,877 shares of the company’s stock worth $36,140,000 after acquiring an additional 40,762 shares during the period. Plustick Management LLC raised its holdings in NextNav by 1.3% during the fourth quarter. Plustick Management LLC now owns 2,065,818 shares of the company’s stock worth $34,375,000 after purchasing an additional 25,818 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in NextNav by 1.7% during the third quarter. Ancora Advisors LLC now owns 1,907,585 shares of the company’s stock worth $27,278,000 after purchasing an additional 32,224 shares in the last quarter. Hedge funds and other 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.