In the last trading session, 1.14 million NextNav Inc (NASDAQ:NN) shares changed hands as the company’s beta touched 1.37. With the company’s per share price at $6.58 changed hands at $0.39 or 6.30% during last session, the market valuation stood at $731.63M. NN’s last price was a discount, traded about -0.15% off its 52-week high of $6.59. The share price had its 52-week low at $1.59, which suggests the last value was 75.84% up since then. When we look at NextNav Inc’s average trading volume, we note the 10-day average is 1.87 million shares, with the 3-month average coming to 930.17K.
NextNav Inc (NASDAQ:NN) trade information
Instantly NN was in green as seen at the end of in last trading. With action 39.11%, the performance over the past five days has been green. The jump to weekly highs of 6.67 added 6.30% to the stock’s daily price. The company’s shares are showing year-to-date upside of 47.87%, with the 5-day performance at 39.11% in the green. However, in the 30-day time frame, NextNav Inc (NASDAQ:NN) is 60.49% up. Looking at the short shares, we see there were 8.54 million shares sold at short interest cover period of 13.93 days.
NextNav Inc (NN) estimates and forecasts
Data shows that the NextNav Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 19.64% over the past 6 months, a 10.61% in annual growth rate that is considerably lower than the industry average of 18.80%. Year-over-year growth is forecast to reach 2.10% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $1.2 million. 2 analysts are of the opinion that NextNav Inc’s revenue for the quarter ending Mar 2024 will be $1.22 million. The company’s revenue for the corresponding quarters a year ago was $803k and $830k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 49.40%. The estimates for the next quarter sales put growth at 47.00%.
The 2024 estimates are for NextNav Inc earnings to increase by 12.63%.
NN Dividends
NextNav Inc is expected to release its next quarterly earnings report on March 13.
NextNav Inc (NASDAQ:NN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 39.25% of NextNav Inc shares while 51.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.41%. There are 51.89% institutions holding the NextNav Inc stock share, with Fortress Investment Group LLC the top institutional holder. As of Dec 30, 2023, the company held 12.62% of the shares, roughly 14.18 million NN shares worth $93.29 million.
NEA Management Company, LLC holds the second largest percentage of outstanding shares, with 7.29% or 8.19 million shares worth $53.88 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were General American Investors Co and iShares Russell 2000 ETF. With 1.67 million shares estimated at $10.97 million under it, the former controlled 1.48% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.16% of the shares, roughly 1.31 million shares worth around $8.61 million.
