B. Riley Financial Has Lowered Expectations for NN (NASDAQ:NNBR) Stock Price

NN (NASDAQ:NNBR) had its price objective dropped by analysts at B. Riley Financial from $4.00 to $3.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s target price would indicate a potential upside of 122.22% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.00.

NN Stock Performance

Shares of NASDAQ NNBR traded down $0.10 during mid-day trading on Friday, hitting $1.35. 116,047 shares of the company were exchanged, compared to its average volume of 309,454. The stock has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.71. NN has a 1-year low of $1.10 and a 1-year high of $2.74. The company has a quick ratio of 1.17, a current ratio of 1.87 and a debt-to-equity ratio of 3.01. The firm has a market cap of $67.76 million, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of 0.24 and a beta of 2.29.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, March 4th. The industrial products company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.31). NN had a negative return on equity of 0.88% and a negative net margin of 8.05%.The firm had revenue of $104.72 million for the quarter, compared to analysts’ expectations of $105.36 million. On average, sell-side analysts forecast that NN will post -0.2 EPS for the current fiscal year.

Institutional Trading of NN

A number of institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in NN during the second quarter worth $343,000. Bank of Montreal Can purchased a new stake in shares of NN in the second quarter valued at $105,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of NN during the second quarter valued at $27,000. XTX Topco Ltd purchased a new stake in NN during the 2nd quarter worth about $156,000. Finally, J.W. Cole Advisors Inc. increased its position in NN by 78.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 81,000 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 35,700 shares in the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

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.