NN (NASDAQ:NNBR) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

NN, Inc. (NASDAQ:NNBR)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.20 and traded as high as $3.70. NN shares last traded at $3.54, with a volume of 960,232 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. B. Riley Financial lowered NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Finally, Craig Hallum initiated coverage on shares of NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 price target for the company. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.00.

NN Stock Down 9.1%

The business has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $2.22. The company has a market capitalization of $162.44 million, a price-to-earnings ratio of -2.83 and a beta of 2.56. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.The business had revenue of $118.45 million for the quarter, compared to analyst estimates of $106.59 million. As a group, equities analysts predict that NN, Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at NN

In other news, Director Raymond T. White sold 18,782 shares of NN stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total value of $45,264.62. Following the sale, the director owned 858,283 shares of the company’s stock, valued at $2,068,462.03. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. lifted its position in shares of NN by 8.2% during the 4th quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock valued at $3,845,000 after acquiring an additional 228,800 shares during the period. Nomura Holdings Inc. increased its stake in NN by 0.6% in the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock valued at $6,117,000 after purchasing an additional 18,615 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in 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 purchasing an additional 483,952 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in NN by 69.4% during 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 during the last quarter. Finally, RBF Capital LLC boosted its position in NN by 71.8% during the first quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock worth $1,211,000 after purchasing an additional 348,945 shares in the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.

About NN

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.