B. Riley Financial Lowers NN (NASDAQ:NNBR) Price Target to $3.00

NN (NASDAQ:NNBR) had its price target dropped by stock analysts at B. Riley Financial from $4.00 to $3.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s target price indicates a potential upside of 120.59% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.00.

NN Price Performance

NASDAQ NNBR opened at $1.36 on Friday. NN has a 52 week low of $1.10 and a 52 week high of $2.74. The firm has a market capitalization of $68.26 million, a P/E ratio of -1.27, a PEG ratio of 0.22 and a beta of 2.29. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 4.52. The company has a 50-day moving average price of $1.50 and a 200-day moving average price of $1.69.

NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, March 4th. The industrial products company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.31). The business had revenue of $104.72 million during the quarter, compared to the consensus estimate of $105.36 million. NN had a negative return on equity of 0.98% and a negative net margin of 8.05%. Equities research analysts anticipate that NN will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. lifted its position 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 valued at $116,000 after buying an additional 9,600 shares in the last quarter. Corient Private Wealth LLC increased its holdings in NN by 16.1% in the 2nd quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 10,000 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in NN during the 2nd quarter worth approximately $27,000. Two Sigma Investments LP bought a new stake in NN during the 3rd quarter worth approximately $27,000. Finally, Hudson Bay Capital Management LP purchased a new position in NN during the second quarter valued at approximately $29,000. 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.