NN, Inc. Forecasted to Earn Q1 2024 Earnings of ($0.10) Per Share (NASDAQ:NNBR)

NN, Inc. (NASDAQ:NNBR) – Equities researchers at Noble Financial issued their Q1 2024 earnings per share (EPS) estimates for NN in a note issued to investors on Monday, April 15th. Noble Financial analyst J. Gomes forecasts that the industrial products company will post earnings of ($0.10) per share for the quarter. Noble Financial has a “Outperform” rating and a $6.00 price target on the stock. The consensus estimate for NN’s current full-year earnings is ($0.21) per share. Noble Financial also issued estimates for NN’s Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.19) EPS and FY2025 earnings at ($0.02) EPS.

A number of other equities analysts have also weighed in on the stock. StockNews.com upgraded shares of NN from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. TheStreet upgraded shares of NN from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th.

NN Price Performance

Shares of NNBR traded up $0.07 during mid-day trading on Wednesday, reaching $3.88. The stock had a trading volume of 192,695 shares, compared to its average volume of 176,204. The firm has a market cap of $192.21 million, a price-to-earnings ratio of -2.87 and a beta of 3.02. NN has a 12 month low of $0.97 and a 12 month high of $5.40. The business has a fifty day moving average of $4.65 and a 200 day moving average of $3.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.36 and a current ratio of 2.24.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $112.53 million for the quarter, compared to analysts’ expectations of $116.00 million. NN had a negative net margin of 10.25% and a negative return on equity of 9.19%.

Institutional Trading of NN

Several hedge funds have recently bought and sold shares of the stock. Cannon Global Investment Management LLC purchased a new stake in NN in the 1st quarter worth $85,000. Register Financial Advisors LLC increased its holdings in shares of NN by 20.2% in the 1st quarter. Register Financial Advisors LLC now owns 1,037,463 shares of the industrial products company’s stock worth $4,918,000 after buying an additional 174,487 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of NN in the 4th quarter worth about $104,000. Barclays PLC increased its holdings in shares of NN by 703.0% in the 4th quarter. Barclays PLC now owns 17,071 shares of the industrial products company’s stock worth $68,000 after buying an additional 14,945 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its holdings in shares of NN by 4.0% in the 4th quarter. Nantahala Capital Management LLC now owns 1,407,222 shares of the industrial products company’s stock worth $5,629,000 after buying an additional 54,079 shares during the last quarter. Hedge funds and other institutional investors own 53.92% of the company’s stock.

About NN

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.