NN, Inc. (NASDAQ:NNBR – Get Rating) – Investment analysts at KeyCorp cut their Q4 2022 earnings per share (EPS) estimates for shares of NN in a research note issued on Tuesday, May 10th. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.10. KeyCorp also issued estimates for NN’s FY2023 earnings at $0.44 EPS.
NN (NASDAQ:NNBR – Get Rating) last announced its quarterly earnings results on Thursday, March 10th. The industrial products company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The business had revenue of $110.38 million for the quarter, compared to the consensus estimate of $110.90 million. NN had a negative net margin of 2.43% and a negative return on equity of 0.30%. During the same period last year, the company posted $0.17 EPS.
Shares of NASDAQ:NNBR opened at $2.37 on Friday. The company has a market capitalization of $104.02 million, a price-to-earnings ratio of -5.04 and a beta of 2.85. The firm’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $3.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.37 and a quick ratio of 1.64. NN has a fifty-two week low of $2.28 and a fifty-two week high of $9.62.
Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its stake in shares of NN by 102.0% during the 4th quarter. Citigroup Inc. now owns 10,654 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 5,381 shares in the last quarter. Addison Advisors LLC grew its stake in shares of NN by 1,435.0% in the first quarter. Addison Advisors LLC now owns 10,822 shares of the industrial products company’s stock valued at $31,000 after buying an additional 10,117 shares in the last quarter. LPL Financial LLC bought a new position in shares of NN in the fourth quarter valued at $47,000. Metropolitan Life Insurance Co NY grew its stake in shares of NN by 18.2% in the first quarter. Metropolitan Life Insurance Co NY now owns 12,637 shares of the industrial products company’s stock valued at $94,000 after buying an additional 1,950 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of NN by 79.2% in the third quarter. BNP Paribas Arbitrage SA now owns 12,959 shares of the industrial products company’s stock valued at $68,000 after buying an additional 5,729 shares in the last quarter. 84.34% of the stock is owned by institutional investors.
In other NN news, major shareholder Corre Partners Management, Llc purchased 274,619 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The stock was bought at an average cost of $2.60 per share, with a total value of $714,009.40. Following the purchase, the insider now directly owns 4,042,949 shares of the company’s stock, valued at $10,511,667.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas Hampton Jr. Wilson purchased 18,800 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The shares were acquired at an average cost of $2.90 per share, with a total value of $54,520.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 362,914 shares of company stock worth $959,641 over the last 90 days. Corporate insiders own 2.09% of the company’s stock.
About NN (Get Rating)
NN, Inc, a diversified industrial company, designs, manufactures, and sells high-precision components and assemblies. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for general industrial and automotive end markets.
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