NN (NASDAQ:NNBR) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of NN (NASDAQ:NNBR) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also commented on NNBR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Thursday, January 22nd. B. Riley Financial decreased their target price on shares of NN from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

NN Stock Down 0.8%

Shares of NASDAQ:NNBR opened at $1.26 on Wednesday. The firm has a market cap of $63.24 million, a P/E ratio of -1.18, a P/E/G ratio of 0.21 and a beta of 2.29. NN has a 12-month low of $1.10 and a 12-month high of $2.67. The business has a fifty day simple moving average of $1.51 and a 200 day simple moving average of $1.66. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC grew its holdings in NN by 69.4% in the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after purchasing an additional 1,000,000 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in shares of NN by 21.3% during the second 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 purchasing an additional 483,952 shares during the period. RBF Capital LLC bought a new position in shares of NN during the 2nd quarter worth about $601,000. UBS Group AG boosted its position in shares of NN by 15,147.1% during the 3rd quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock worth $576,000 after purchasing an additional 277,798 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of NN by 291.0% in the 4th quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock valued at $470,000 after buying an additional 273,500 shares during the period. 53.92% of the stock is owned by institutional investors.

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.