NN (NASDAQ:NNBR) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of NN, Inc. (NASDAQ:NNBR) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.52 and traded as high as $2.25. NN shares last traded at $1.98, with a volume of 11,957,043 shares.

Analysts Set New Price Targets

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

NN Stock Performance

The stock has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $1.52. The stock has a market cap of $99.38 million, a P/E ratio of -1.85, a PEG ratio of 0.32 and a beta of 2.21. The company has a debt-to-equity ratio of 4.52, a quick ratio of 1.09 and a current ratio of 1.83.

Hedge Funds Weigh In On NN

Hedge funds have recently modified their holdings of the stock. J.W. Cole Advisors Inc. grew 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 valued at $116,000 after acquiring an additional 9,600 shares in the last quarter. XTX Topco Ltd grew its holdings 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 valued at $95,000 after acquiring an additional 16,732 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of NN in the 4th quarter valued at about $90,000. Squarepoint Ops LLC bought a new position in shares of NN in the 3rd quarter valued at about $88,000. Finally, Quadrature Capital Ltd bought a new position in shares of NN in the 4th quarter valued at about $77,000. Institutional investors own 53.92% of the company’s stock.

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.