NN (NASDAQ:NNBR) Coverage Initiated at Craig Hallum

Investment analysts at Craig Hallum assumed coverage on shares of NN (NASDAQ:NNBR) in a note issued to investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $7.00 price target on the industrial products company’s stock. Craig Hallum’s target price points to a potential upside of 104.68% from the stock’s previous close.

A number of other research analysts have also weighed in on NNBR. Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research report on Tuesday, April 21st. Finally, B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.00.

NN Stock Performance

Shares of NN stock opened at $3.42 on Monday. The company has a market capitalization of $180.37 million, a PE ratio of -3.14 and a beta of 2.56. NN has a 12 month low of $1.10 and a 12 month high of $4.44. 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 stock’s fifty day simple moving average is $2.99 and its 200 day simple moving average is $2.14.

NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share for the quarter, topping 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 firm had revenue of $118.45 million for the quarter, compared to analyst estimates of $106.59 million. On average, research analysts predict that NN will post 0.16 EPS for the current year.

Insider Buying and Selling at NN

In other news, major shareholder Corre Partners Management, Llc sold 136,165 shares of NN stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder John Frederick Barrett 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 transaction of $358,113.95. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,426,120 shares of company stock worth $3,810,272 over the last quarter. 19.60% of the stock is currently owned by insiders.

Institutional Trading of NN

Institutional investors and hedge funds have recently bought and sold shares of the business. RBF Capital LLC lifted its position in shares of 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. Renaissance Technologies LLC boosted its stake in shares of NN by 49.4% during the 1st quarter. Renaissance Technologies LLC now owns 549,040 shares of the industrial products company’s stock worth $796,000 after acquiring an additional 181,540 shares during the period. Laurel Oak Wealth Management LLC acquired a new position in shares of NN during the 1st quarter worth approximately $72,000. Virtu Financial LLC acquired a new position in shares of NN during the 4th quarter worth approximately $30,000. Finally, XTX Topco Ltd raised its stake in NN by 29.3% in the 4th quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 16,732 shares during the period. Institutional investors own 53.92% of the company’s stock.

About NN

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.