NN (NASDAQ:NNBR) Shares Pass Above 200-Day Moving Average – What’s Next?

NN, Inc. (NASDAQ:NNBR)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.60 and traded as high as $2.52. NN shares last traded at $2.42, with a volume of 697,740 shares changing hands.

Analyst Ratings Changes

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

NN Stock Performance

The stock has a 50 day simple moving average of $1.95 and a 200 day simple moving average of $1.61. The company has a market cap of $129.29 million, a price-to-earnings ratio of -2.25, a PEG ratio of 0.45 and a beta of 2.54. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 6.39.

NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. The company had revenue of $118.45 million for the quarter, compared to analysts’ expectations of $106.59 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%. As a group, analysts predict that NN, Inc. will post 0.12 EPS for the current year.

Insider Transactions at NN

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

Institutional Trading of NN

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC grew its holdings in shares of NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after purchasing an additional 1,000,000 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of NN by 21.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock valued at $5,792,000 after purchasing an additional 483,952 shares during the last quarter. RBF Capital LLC grew its holdings in shares of NN by 71.8% during the first quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after purchasing an additional 348,945 shares during the last quarter. UBS Group AG grew its holdings in shares of NN by 15,147.1% during the third quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock valued at $576,000 after purchasing an additional 277,798 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of NN by 291.0% during the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 273,500 shares during the last quarter. 53.92% of the stock is owned by 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.