NN (NASDAQ:NNBR) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of NN, Inc. (NASDAQ:NNBR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.65 and traded as high as $3.07. NN shares last traded at $2.97, with a volume of 614,831 shares trading hands.

Wall Street Analyst Weigh In

NNBR has been the subject of a number of analyst reports. B. Riley Financial lowered NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Tuesday, April 21st. Finally, Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

NN Price Performance

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 firm’s fifty day moving average price is $2.11 and its 200 day moving average price is $1.65. The stock has a market cap of $156.73 million, a PE ratio of -2.72, a P/E/G ratio of 0.57 and a beta of 2.54.

NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.07. The company had revenue of $118.45 million during the quarter, compared to analysts’ expectations of $106.59 million. NN had a negative net margin of 7.85% and a positive return on equity of 4.54%. As a group, equities analysts expect that NN, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at NN

In related news, Director Raymond T. White sold 18,782 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total value of $45,264.62. Following the sale, the director directly owned 858,283 shares in the company, 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 hyperlink. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $2.63, for a total value of $358,113.95. Following the transaction, the insider directly owned 372,744 shares of the company’s stock, valued at approximately $980,316.72. The trade was a 26.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,292,614 shares of company stock valued at $7,904,463. 19.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NN

Several large investors have recently bought and sold shares of the business. J.W. Cole Advisors Inc. lifted its holdings in shares of 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 worth $116,000 after acquiring an additional 9,600 shares during the last quarter. Corient Private Wealth LLC grew its holdings in NN by 16.1% during the 2nd quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 10,000 shares during the last quarter. Two Sigma Investments LP purchased a new stake in NN in the 3rd quarter worth about $27,000. Hudson Bay Capital Management LP purchased a new stake in NN in the 2nd quarter worth about $29,000. Finally, XTX Topco Ltd lifted its stake in NN by 29.3% in the fourth quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16,732 shares during the last quarter. Institutional investors own 53.92% of the company’s stock.

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.