NN (NASDAQ:NNBR) Research Coverage Started at Craig Hallum

Craig Hallum initiated coverage on shares of NN (NASDAQ:NNBR) in a research report report published on Monday morning, Marketbeat reports. The firm issued a buy rating and a $7.00 target price on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. B. Riley Financial cut NN from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Finally, Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NN presently has a consensus rating of “Hold” and an average target price of $5.00.

NN Price Performance

Shares of NASDAQ NNBR opened at $3.45 on Monday. The firm has a market cap of $181.95 million, a P/E ratio of -3.17 and a beta of 2.56. NN has a twelve month low of $1.10 and a twelve month high of $4.44. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 6.39. The company has a 50 day moving average of $3.01 and a 200 day moving average of $2.16.

NN (NASDAQ:NNBR) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $106.59 million. As a group, research analysts expect that NN will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Corre Partners Management, Llc sold 136,165 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder John Frederick Barrett sold 136,165 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95. Following the sale, the insider owned 4,568,715 shares in the company, valued at approximately $12,015,720.45. The trade was a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 315,510 shares of company stock worth $822,732 over the last quarter. 19.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in shares of NN in the second quarter worth $156,000. Marshall Wace LLP boosted its stake in NN by 334.0% during the second quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock valued at $540,000 after buying an additional 197,960 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in NN in the 2nd quarter worth approximately $147,000. Jane Street Group LLC bought a new position in shares of NN during the 2nd quarter valued at approximately $233,000. Finally, Nantahala Capital Management LLC raised its stake in 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 in the last quarter. 53.92% of the stock is 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.