NN (NASDAQ:NNBR) Now Covered by Craig Hallum

Craig Hallum initiated coverage on shares of NN (NASDAQ:NNBR) in a research note released on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $7.00 price target on the industrial products company’s stock.

NNBR has been the topic of several other research reports. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. B. Riley Financial lowered shares of NN from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

NN Stock Performance

NASDAQ NNBR opened at $3.48 on Monday. The firm has a market capitalization of $183.54 million, a P/E ratio of -3.19 and a beta of 2.56. The stock has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $2.13. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.44.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. The firm had revenue of $118.45 million for the quarter, compared to the consensus estimate of $106.59 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%. On average, equities analysts forecast that NN will post 0.16 earnings per share for the current year.

Insider Activity at NN

In other NN news, Director Raymond T. White sold 18,782 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total transaction of $45,264.62. Following the completion of the transaction, the director directly owned 858,283 shares in the company, valued at approximately $2,068,462.03. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder John Frederick Barrett sold 136,165 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $2.63, for a total transaction of $358,113.95. Following the transaction, the insider directly owned 4,568,715 shares in the company, valued at approximately $12,015,720.45. The trade was a 2.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,614,880 shares of company stock valued at $4,244,420. 19.60% of the stock is owned by company insiders.

Institutional Trading of NN

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new position in NN in the 3rd quarter valued at about $27,000. Hudson Bay Capital Management LP purchased a new stake in NN during the 2nd quarter worth approximately $29,000. Virtu Financial LLC acquired a new position in shares of NN during the fourth quarter valued at approximately $30,000. Quinn Opportunity Partners LLC acquired a new position in shares of NN during the fourth quarter valued at approximately $32,000. Finally, Squarepoint Ops LLC purchased a new position in shares of NN in the third quarter valued at approximately $88,000. Hedge funds and other 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.