NN (NASDAQ:NNBR) Stock Price Passes Above 200 Day Moving Average – Here’s Why

NN, Inc. (NASDAQ:NNBR) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.71 and traded as high as $3.05. NN shares last traded at $2.90, with a volume of 304,217 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NNBR shares. B. Riley Financial cut NN from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

NN Price Performance

The stock has a fifty day moving average of $2.27 and a two-hundred day moving average of $1.71. The stock has a market capitalization of $153.03 million, a price-to-earnings ratio of -2.66, a PEG ratio of 0.52 and a beta of 2.59. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 6.39.

NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share 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 firm had revenue of $118.45 million during the quarter, compared to analysts’ expectations of $106.59 million. As a group, equities research analysts forecast that NN, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at NN

In related news, major shareholder John Frederick Barrett sold 136,165 shares of the business’s stock in a transaction that occurred 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 4,568,715 shares in the company, valued at $12,015,720.45. The trade was a 2.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of NN 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 sale, the insider directly owned 372,744 shares of the company’s stock, valued at $980,316.72. This trade represents a 26.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,292,614 shares of company stock valued at $7,904,463 over the last quarter. Corporate insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On NN

Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP acquired a new stake in shares of NN in the 3rd quarter valued at $27,000. Hudson Bay Capital Management LP acquired a new stake in shares of NN in the 2nd quarter valued at $29,000. Virtu Financial LLC acquired a new stake in shares of NN in the 4th quarter valued at $30,000. Quinn Opportunity Partners LLC acquired a new stake in shares of NN in the 4th quarter valued at $32,000. Finally, Laurel Oak Wealth Management LLC acquired a new stake in shares of NN in the 1st quarter valued at $72,000. 53.92% of the stock is owned by institutional investors and hedge funds.

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.