NN (NASDAQ:NNBR) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

NN, Inc. (NASDAQ:NNBR)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.78 and traded as high as $3.06. NN shares last traded at $2.85, with a volume of 1,125,588 shares.

Wall Street Analyst Weigh In

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

NN Stock Down 5.0%

The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87. The firm has a market cap of $150.39 million, a PE ratio of -2.61 and a beta of 2.59. The stock has a fifty day moving average price of $2.45 and a 200-day moving average price of $1.78.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $106.59 million. Research analysts expect that NN, Inc. will post 0.16 EPS for the current year.

Insider Transactions at NN

In other news, Director Raymond T. White sold 18,782 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total transaction of $45,264.62. Following the completion of the sale, the director owned 858,283 shares in the company, valued at approximately $2,068,462.03. The trade was a 2.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following the sale, the insider owned 372,744 shares of the company’s stock, valued at $980,316.72. The trade was a 26.76% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,292,614 shares of company stock worth $7,904,463. 19.60% of the stock is currently owned by company insiders.

Institutional Trading of NN

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP acquired a new stake in NN in the 3rd quarter valued at $27,000. Hudson Bay Capital Management LP acquired a new stake in NN in the 2nd quarter valued at $29,000. Virtu Financial LLC acquired a new stake in NN in the 4th quarter valued at $30,000. Quinn Opportunity Partners LLC acquired a new stake in NN in the 4th quarter valued at $32,000. Finally, Squarepoint Ops LLC acquired a new stake in NN in the 3rd quarter valued at $88,000. 53.92% of the stock is currently 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.