The trading price of NextNav Inc (NASDAQ:NN) closed higher on Friday, December 27, and closing at $16.74, 0.36% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $16.515 and $17.6007. In examining the 52-week price action we see that the stock hit a 52-week high of $18.54 and a 52-week low of $3.55. Over the past month, the stock has gained 4.23% in value.
NextNav Inc, whose market valuation is $2.19 billion at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.14 per share this quarter, however they have predicted annual earnings per share of -0.74 for current year and -0.46 for next year.
Analysts have forecast the company to bring in revenue of 1.73M for the current quarter, with the likely lows of 1.68M and highs of 1.77M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 5.48M.
On the technical side, indicators suggest NN has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that NN’s price is currently -0.07% off the SMA20 and 15.09% off the SMA50. The RSI metric on the 14-day chart is currently showing 55.86, and weekly volatility stands at 7.78%. When measured over the past 30 days, the indicator reaches 6.42%. NextNav Inc (NASDAQ:NN)’s beta value is currently sitting at 1.15, while the Average True Range indicator is currently displaying 1.09. With analysts defining $9-$9 as the low and high price targets, we arrive at a consensus price target of $9 for the trailing 12-month period. The current price is about 46.24% off the estimated low and 46.24% off the forecast high, based on this estimate. Investors will be thrilled if NN’s share price rises to $9, which is the median consensus price. At that level, NN’s share price would be 46.24% above current price.
To see how NextNav Inc stock has been performing in comparison to its peers in the industry, here are the numbers: NN stock’s performance was 0.36% in the latest trading, and 278.73% in the past year.
An evaluation of the daily trading volume of NextNav Inc (NASDAQ:NN) indicates that the 3-month average is 1.06 million. However, this figure has increased over the past 10 days to an average of 1.52.
Currently, records show that 127.55 million of the company’s shares remain outstanding. The insiders hold 63.13% of outstanding shares, whereas institutions hold 29.85%. The stats also highlight that short interest as of 2024-12-13, stood at 12.52 million shares, resulting in a short ratio of 10.18 at that time. From this, we can conclude that short interest is 1602.00 of the company’s total outstanding shares. It is noteworthy that short shares in December were down slightly from the previous month’s figure, which was 13.68 million. However, since the stock’s price has seen 276.18% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
