During the last session, NextNav Inc (NASDAQ:NN)’s traded shares were 0.61 million, with the beta value of the company hitting 0.95. At the end of the trading day, the stock’s price was $11.95, reflecting an intraday gain of 2.84% or $0.33. The 52-week high for the NN share is $11.97, that puts it down -0.17 from that peak though still a striking 70.29% gain since the share price plummeted to a 52-week low of $3.55. The company’s market capitalization is $1.51B, and the average intraday trading volume over the past 10 days was 1.02 million shares, and the average trade volume was 804.19K shares over the past three months.
NextNav Inc (NASDAQ:NN) trade information
NextNav Inc (NN) registered a 2.84% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.84% in intraday trading to $11.95, hitting a weekly high. The stock’s 5-day price performance is 14.14%, and it has moved by 56.62% in 30 days. Based on these gigs, the overall price performance for the year is 161.49%. The short interest in NextNav Inc (NASDAQ:NN) is 14.31 million shares and it means that shorts have 26.84 day(s) to cover.
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The consensus price target of analysts on Wall Street is $9, which implies a decrease of -32.78% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $9 respectively. As a result, NN is trading at a premium of 24.69% off the target high and 24.69% off the low.
NextNav Inc (NN) estimates and forecasts
Statistics show that NextNav Inc has underperformed its competitors in share price, compared to the industry in which it operates. NextNav Inc (NN) shares have gone up 32.48% during the last six months, with a year-to-date growth rate less than the industry average at -21.21% against 18.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 28.60% this quarter and then drop -6.70% in the quarter after that. In the rating firms’ projections, revenue will increase 18.30% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 1.1M as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to 1.31M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 1.03M and 1.21M respectively. In this case, analysts expect current quarter sales to grow by 7.10% and then jump by 8.70% in the coming quarter.
While earnings are projected to return -24.75% in 2024.
NN Dividends
NextNav Inc is due to release its next quarterly earnings on 2024-Nov-13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
NextNav Inc (NASDAQ:NN)’s Major holders
NextNav Inc insiders own 36.90% of total outstanding shares while institutional holders control 49.78%, with the float percentage being 78.90%. FORTRESS INVESTMENT GROUP LLC is the largest shareholder of the company, while 159.0 institutions own stock in it. As of 2024-06-30, the company held over 14.18 million shares (or 12.766% of all shares), a total value of $114.98 million in shares.
The next largest institutional holding, with 8.19 million shares, is of NEA MANAGEMENT COMPANY, LLC’s that is approximately 7.3736% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $66.41 million.
Also, the Mutual Funds coming in first place with the largest holdings of NextNav Inc (NN) shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund . Data provided on Aug 31, 2023 indicates that iShares Russell 2000 ETF owns about 1.28 shares. This amounts to just over 1.18 percent of the company’s overall shares, with a $5.54 million market value. The same data shows that the other fund manager holds slightly less at 1.19, or about 1.09% of the stock, which is worth about $3.49 million.
