NN (NASDAQ:NNBR) Shares Cross Above 200 Day Moving Average – What’s Next?

NN, Inc. (NASDAQ:NNBR)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.62 and traded as high as $1.9050. NN shares last traded at $1.71, with a volume of 4,461,793 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NNBR shares. Zacks Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. B. Riley Financial decreased their target price on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NN currently has a consensus rating of “Reduce” and an average target price of $3.00.

NN Stock Performance

The stock has a fifty day simple moving average of $1.51 and a 200-day simple moving average of $1.62. 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 company has a market capitalization of $85.82 million, a P/E ratio of -1.60, a PEG ratio of 0.35 and a beta of 2.29.

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

Hedge Funds Weigh In On NN

A number of large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in NN during the 4th quarter worth $30,000. XTX Topco Ltd increased its position in NN by 29.3% in the fourth quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16,732 shares during the period. Quadrature Capital Ltd bought a new stake in NN during the 4th quarter worth about $77,000. First Manhattan CO. LLC. raised its holdings in 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 worth $3,845,000 after purchasing an additional 228,800 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in NN during the 4th quarter valued at about $90,000. 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.