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

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

NN Stock Up 0.3%

Shares of NASDAQ NNBR traded up $0.01 during midday trading on Thursday, reaching $1.54. 415,013 shares of the company’s stock traded hands, compared to its average volume of 310,689. The company has a market cap of $77.06 million, a price-to-earnings ratio of -1.25, a P/E/G ratio of 0.24 and a beta of 2.29. The stock’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $1.71. The company has a quick ratio of 1.17, a current ratio of 1.87 and a debt-to-equity ratio of 3.01. NN has a one year low of $1.10 and a one year high of $2.94.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. lifted its stake in shares of NN by 11.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 9,600 shares during the last quarter. Corient Private Wealth LLC lifted its position 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 valued at $151,000 after buying an additional 10,000 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of NN during the third quarter valued at about $27,000. Hudson Bay Capital Management LP bought a new stake in shares of NN in the 2nd quarter valued at about $29,000. Finally, XTX Topco Ltd grew its position in shares of NN by 29.3% in the 4th quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock worth $95,000 after buying an additional 16,732 shares during the last quarter. 53.92% of the stock is currently 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.