NextNav (NASDAQ:NN) Releases Quarterly Earnings Results

NextNav (NASDAQ:NN) released its quarterly earnings results on Wednesday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10), Zacks reports. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.73 million.

NextNav Price Performance

Shares of NextNav stock opened at $11.20 on Friday. The firm has a market cap of $1.46 billion, a PE ratio of -14.93 and a beta of 1.17. The company’s fifty day simple moving average is $12.00 and its two-hundred day simple moving average is $11.86. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav has a 12-month low of $3.95 and a 12-month high of $18.54.

Insider Activity at NextNav

In other NextNav news, CFO Christian D. Gates sold 3,918 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.65, for a total transaction of $69,152.70. Following the completion of the transaction, the chief financial officer now owns 815,722 shares of the company’s stock, valued at approximately $14,397,493.30. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the sale, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,908 shares of company stock worth $141,851 in the last 90 days. Company insiders own 11.30% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley raised their price target on NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

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.