NN (NASDAQ:NNBR) Stock Rating Upgraded by Wall Street Zen

NN (NASDAQ:NNBR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts have also recently issued reports on NNBR. B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of NN in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Finally, Craig Hallum began coverage on NN in a research report on Monday, July 20th. They set a “buy” rating and a $7.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.67.

NN Price Performance

Shares of NASDAQ:NNBR opened at $3.77 on Friday. NN has a twelve month low of $1.10 and a twelve month high of $4.48. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70. The company has a market cap of $198.83 million, a PE ratio of -3.93 and a beta of 2.57. The company’s 50 day moving average is $3.26 and its 200 day moving average is $2.34.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 EPS for the quarter. The business had revenue of $128.74 million during the quarter, compared to analysts’ expectations of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. On average, sell-side analysts forecast that NN will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other NN news, Director Raymond T. White sold 18,782 shares of NN stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total value of $45,264.62. Following the completion of the transaction, the director owned 858,283 shares of the company’s stock, valued at approximately $2,068,462.03. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On NN

Several hedge funds have recently modified their holdings of the company. J.W. Cole Advisors Inc. grew its stake in NN by 11.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 9,600 shares during the period. Corient Private Wealth LLC increased its stake in shares of NN by 16.1% during the second quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 10,000 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in shares of NN during the second quarter worth about $41,000. Two Sigma Investments LP acquired a new position in shares of NN during the 3rd quarter worth about $27,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of NN during the 2nd quarter worth about $29,000. 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.