NN (NASDAQ:NNBR) Shares Cross Above 200-Day Moving Average – Here’s What Happened

NN, Inc. (NASDAQ:NNBR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.85 and traded as high as $2.92. NN shares last traded at $2.63, with a volume of 563,019 shares traded.

Wall Street Analysts Forecast Growth

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

NN Trading Down 8.7%

The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 6.39. The company has a market cap of $138.79 million, a price-to-earnings ratio of -2.41 and a beta of 2.59. The firm has a 50-day moving average price of $2.60 and a 200 day moving average price of $1.85.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $106.59 million. As a group, sell-side analysts forecast that NN, Inc. will post 0.16 EPS for the current year.

Insider Transactions at NN

In other news, major shareholder John Frederick Barrett sold 555,305 shares of NN stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $2.69, for a total value of $1,493,770.45. Following the completion of the transaction, the insider directly owned 4,717,079 shares of the company’s stock, valued at approximately $12,688,942.51. The trade was a 10.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Corre Partners Management, Llc sold 555,305 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $2.69, for a total transaction of $1,493,770.45. Following the sale, the insider owned 412,427 shares in the company, valued at approximately $1,109,428.63. This trade represents a 57.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,292,614 shares of company stock worth $7,904,463. Insiders own 19.60% of the company’s stock.

Institutional Trading of NN

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Manhattan CO. LLC. lifted its holdings in shares of NN by 8.2% in 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. Nomura Holdings Inc. grew its stake in NN by 0.6% during the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock worth $6,117,000 after buying an additional 18,615 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position in NN by 21.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock worth $5,792,000 after buying an additional 483,952 shares during the period. Nantahala Capital Management LLC increased its position in NN by 69.4% in the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after buying an additional 1,000,000 shares during the period. Finally, RBF Capital LLC lifted its stake in NN by 71.8% in the first quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after buying an additional 348,945 shares during the last quarter. 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.