NN (NASDAQ:NNBR) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of NN, Inc. (NASDAQ:NNBR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.71 and traded as high as $3.05. NN shares last traded at $2.90, with a volume of 304,217 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Tuesday, April 21st. Finally, B. Riley Financial downgraded NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NN has an average rating of “Reduce” and an average target price of $3.00.

NN Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 6.39. The business has a 50-day moving average price of $2.33 and a two-hundred day moving average price of $1.74. The company has a market capitalization of $151.98 million, a price-to-earnings ratio of -2.64, a price-to-earnings-growth ratio of 0.53 and a beta of 2.59.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.The company had revenue of $118.45 million for the quarter, compared to analyst estimates of $106.59 million. As a group, research analysts anticipate that NN, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Corre Partners Management, Llc sold 555,305 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $2.69, for a total value of $1,493,770.45. Following the completion of the sale, the insider directly owned 412,427 shares of the company’s stock, valued at approximately $1,109,428.63. This represents a 57.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder John Frederick Barrett sold 555,305 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $2.69, for a total value of $1,493,770.45. Following the completion of the sale, the insider directly owned 4,717,079 shares of the company’s stock, valued at $12,688,942.51. The trade was a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,292,614 shares of company stock worth $7,904,463 over the last ninety days. 19.60% of the stock is owned by insiders.

Institutional Investors Weigh In On NN

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 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 purchasing an additional 1,000,000 shares during the period. Paradigm Capital Management Inc. NY grew its stake in shares of NN by 21.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock worth $5,792,000 after acquiring an additional 483,952 shares during the period. RBF Capital LLC grew its stake in shares of NN by 71.8% during the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock worth $1,211,000 after acquiring an additional 348,945 shares during the period. UBS Group AG boosted its stake 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 purchasing an additional 277,798 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in NN by 291.0% in the 4th quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 273,500 shares during the period. 53.92% of the stock is owned by hedge funds and other 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.