NN (NASDAQ:NNBR) Upgraded to “Hold” at Zacks Research

NN (NASDAQ:NNBR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on NNBR. 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 report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NN currently has an average rating of “Hold” and a consensus price target of $3.00.

NN Price Performance

Shares of NASDAQ:NNBR opened at $2.76 on Wednesday. The stock’s 50 day moving average is $1.74 and its 200-day moving average is $1.57. NN has a twelve month low of $1.10 and a twelve month high of $2.99. The firm has a market capitalization of $138.52 million, a price-to-earnings ratio of -2.53, a PEG ratio of 0.49 and a beta of 2.54. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.07. NN had a positive return on equity of 4.03% and a negative net margin of 7.85%.The business had revenue of $118.45 million during the quarter, compared to the consensus estimate of $106.59 million. Sell-side analysts forecast that NN will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at NN

In other NN news, major shareholder John Frederick Barrett sold 136,165 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the transaction, the insider owned 4,568,715 shares in the company, valued at $12,015,720.45. This represents a 2.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the transaction, the insider owned 372,744 shares of the company’s stock, valued at $980,316.72. This trade represents a 26.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,273,832 shares of company stock valued at $7,859,198 in the last quarter. 19.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP bought a new position in NN in the 3rd quarter valued at $27,000. Hudson Bay Capital Management LP bought a new position in NN in the 2nd quarter valued at $29,000. Virtu Financial LLC bought a new position in NN in the 4th quarter valued at $30,000. Quinn Opportunity Partners LLC bought a new position in NN in the 4th quarter valued at $32,000. Finally, Laurel Oak Wealth Management LLC bought a new position in NN in the 1st quarter valued at $72,000. 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.