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

NN, Inc. (NASDAQ:NNBR) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.20 and traded as high as $3.70. NN shares last traded at $3.54, with a volume of 960,232 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NNBR. Craig Hallum began coverage on NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price for the company. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. B. Riley Financial lowered NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.00.

NN Stock Performance

The company’s fifty day simple moving average is $3.09 and its two-hundred day simple moving average is $2.20. The company has a market capitalization of $186.70 million, a price-to-earnings ratio of -3.25 and a beta of 2.56. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87.

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, beating analysts’ consensus estimates of ($0.05) by $0.07. NN had a negative net margin of 7.85% and a positive return on equity of 4.54%. The business had revenue of $118.45 million for the quarter, compared to analyst estimates of $106.59 million. Equities research analysts predict that NN, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at NN

In other NN news, Director Raymond T. White sold 18,782 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total transaction of $45,264.62. Following the sale, the director owned 858,283 shares in the company, valued at $2,068,462.03. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 19.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in shares of NN by 334.0% in the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 197,960 shares during the last quarter. Jane Street Group LLC lifted its stake in NN by 157.7% during the fourth quarter. Jane Street Group LLC now owns 256,091 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 156,731 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in NN by 39.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 180,749 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 50,727 shares during the last quarter. XTX Topco Ltd acquired a new position in NN in the second quarter worth $156,000. Finally, Captrust Financial Advisors acquired a new position in NN in the fourth quarter worth $90,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

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.