NN (NASDAQ:NNBR) Announces Quarterly Earnings Results, Misses Expectations By $0.31 EPS

NN (NASDAQ:NNBR) announced its quarterly earnings results on Wednesday. The industrial products company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.31), reports. NN had a negative net margin of 10.01% and a negative return on equity of 2.09%. The business had revenue of $104.72 million for the quarter, compared to the consensus estimate of $105.36 million.

NN Stock Down 4.2%

NNBR traded down $0.07 during mid-day trading on Thursday, reaching $1.47. 309,165 shares of the stock were exchanged, compared to its average volume of 308,160. NN has a 1 year low of $1.10 and a 1 year high of $2.94. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.17 and a current ratio of 1.87. The stock has a market capitalization of $73.54 million, a PE ratio of -1.19, a price-to-earnings-growth ratio of 0.24 and a beta of 2.29. The company has a 50 day moving average price of $1.50 and a two-hundred day moving average price of $1.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNBR. Nantahala Capital Management LLC grew its position in NN by 69.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of NN by 21.3% in 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 acquiring an additional 483,952 shares in the last quarter. UBS Group AG increased its position 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 acquiring an additional 277,798 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in NN by 291.0% during the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock worth $470,000 after acquiring an additional 273,500 shares during the period. Finally, First Manhattan CO. LLC. boosted its position in NN by 8.2% in the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after purchasing an additional 228,800 shares during the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NN currently has a consensus rating of “Hold” and an average price target of $4.00.

NN Company Profile

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.