NN (NASDAQ:NNBR) Share Price Passes Above 200-Day Moving Average – What’s Next?

NN, Inc. (NASDAQ:NNBR)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.62 and traded as high as $1.9050. NN shares last traded at $1.71, with a volume of 4,461,793 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Thursday, January 22nd. Zacks Research lowered NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Finally, B. Riley Financial reduced their price objective on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $3.00.

NN Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 4.52. The company has a market cap of $85.82 million, a P/E ratio of -1.60, a price-to-earnings-growth ratio of 0.30 and a beta of 2.29. The company’s 50-day moving average price is $1.51 and its two-hundred day moving average price is $1.62.

NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, March 4th. The industrial products company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.31). The firm had revenue of $104.72 million for the quarter, compared to analyst estimates of $105.36 million. NN had a negative net margin of 8.05% and a negative return on equity of 0.98%. As a group, equities analysts forecast that NN, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of NN

A number of institutional investors and hedge funds have recently modified their holdings of NNBR. Nantahala Capital Management LLC grew its stake 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 valued at $5,127,000 after buying an additional 1,000,000 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in NN by 21.3% in the 2nd 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 buying an additional 483,952 shares during the last quarter. RBF Capital LLC acquired a new stake in NN in the 2nd quarter valued at approximately $601,000. UBS Group AG increased its position in NN by 15,147.1% in the 3rd quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock worth $576,000 after buying an additional 277,798 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 buying an additional 273,500 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.