NN (NASDAQ:NNBR) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of NN (NASDAQ:NNBR) from a hold rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports.

NNBR has been the subject of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Thursday, January 22nd. B. Riley Financial decreased their price target on NN from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 6th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $3.00.

NN Price Performance

Shares of NN stock opened at $1.27 on Wednesday. The company has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $1.67. NN has a twelve month low of $1.10 and a twelve month high of $2.67. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52. The stock has a market capitalization of $63.74 million, a price-to-earnings ratio of -1.19, a price-to-earnings-growth ratio of 0.21 and a beta of 2.29.

NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, March 4th. The industrial products company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.31). NN had a negative net margin of 8.05% and a negative return on equity of 0.98%. The business had revenue of $104.72 million during the quarter, compared to analysts’ expectations of $105.36 million. Analysts forecast that NN will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. First Manhattan CO. LLC. boosted its holdings in NN by 8.2% during the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after buying an additional 228,800 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of NN by 0.6% during the third quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock valued at $6,117,000 after buying an additional 18,615 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of NN by 21.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock worth $5,792,000 after acquiring an additional 483,952 shares during the period. Nantahala Capital Management LLC grew its stake in NN by 69.4% in the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Register Financial Advisors LLC raised its position in NN by 2.4% in the 3rd quarter. Register Financial Advisors LLC now owns 1,276,878 shares of the industrial products company’s stock valued at $2,630,000 after purchasing an additional 29,498 shares during the last quarter. Institutional investors own 53.92% of the company’s stock.

NN Company Profile

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.