546,652 Shares in NN, Inc. $NNBR Bought by Walleye Capital LLC

Walleye Capital LLC bought a new stake in shares of NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, Holdings Channel reports. The firm bought 546,652 shares of the industrial products company’s stock, valued at approximately $1,962,000.

Other hedge funds have also bought and sold shares of the company. RBF Capital LLC grew its holdings in NN by 71.8% during the first quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after purchasing an additional 348,945 shares during the period. Renaissance Technologies LLC raised its stake in shares of NN by 49.4% in the first quarter. Renaissance Technologies LLC now owns 549,040 shares of the industrial products company’s stock worth $796,000 after buying an additional 181,540 shares during the period. Laurel Oak Wealth Management LLC bought a new position in shares of NN in the first quarter worth about $72,000. Virtu Financial LLC purchased a new position in shares of NN during the 4th quarter valued at about $30,000. Finally, XTX Topco Ltd lifted its position in shares of NN by 29.3% during the 4th quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock valued at $95,000 after buying an additional 16,732 shares in the last quarter. Institutional investors own 53.92% of the company’s stock.

NN Trading Up 8.0%

NNBR stock opened at $3.90 on Friday. NN, Inc. has a 1-year low of $1.10 and a 1-year high of $4.48. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. The company has a market capitalization of $322.06 million, a price-to-earnings ratio of -4.06 and a beta of 2.57. The business has a 50 day simple moving average of $3.32 and a two-hundred day simple moving average of $2.41.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $128.74 million during the quarter, compared to analyst estimates of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. Research analysts anticipate that NN, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NNBR. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Craig Hallum started coverage on shares of NN in a research note on Monday, July 20th. They set a “buy” rating and a $7.00 target price on the stock. Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. B. Riley Financial lowered shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Finally, Lake Street Capital reissued a “buy” rating and issued a $7.00 price objective on shares of NN in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.67.

About NN

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.