NN (NASDAQ:NNBR) Releases Earnings Results, Beats Expectations By $0.07 EPS

NN (NASDAQ:NNBR) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07, FiscalAI reports. The business had revenue of $118.45 million during the quarter, compared to the consensus estimate of $106.59 million. NN had a negative net margin of 8.05% and a negative return on equity of 0.98%.

NN Stock Up 2.0%

Shares of NNBR stock traded up $0.05 during trading hours on Wednesday, hitting $2.52. 1,767,951 shares of the company were exchanged, compared to its average volume of 1,521,767. The business has a 50 day moving average of $1.72 and a two-hundred day moving average of $1.56. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 4.52. NN has a 52 week low of $1.10 and a 52 week high of $2.88. The company has a market capitalization of $126.48 million, a PE ratio of -2.36, a PEG ratio of 0.48 and a beta of 2.54.

Insider Buying and Selling at NN

In other news, 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 completion of the sale, the insider owned 4,568,715 shares of the company’s stock, valued at $12,015,720.45. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95. Following the sale, the insider directly owned 372,744 shares of the company’s stock, valued at $980,316.72. This represents a 26.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,273,832 shares of company stock valued at $7,859,198 in the last three months. 19.60% of the stock is owned by insiders.

Institutional Investors Weigh In On NN

Several large investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of NN during the fourth quarter worth $30,000. XTX Topco Ltd boosted its holdings in NN by 29.3% during the fourth quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16,732 shares during the last quarter. Quadrature Capital Ltd acquired a new position in NN during the fourth quarter worth $77,000. First Manhattan CO. LLC. grew its position in NN by 8.2% in the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock valued at $3,845,000 after purchasing an additional 228,800 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in NN in the 4th quarter valued at $90,000. Institutional investors own 53.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NNBR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Zacks Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Finally, B. Riley Financial dropped their price target on shares of NN from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 6th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, NN presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

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.