NN (NASDAQ:NNBR) Stock Passes Above 200-Day Moving Average – What’s Next?

NN, Inc. (NASDAQ:NNBR) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.71 and traded as high as $3.55. NN shares last traded at $3.47, with a volume of 738,041 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research report on Friday, July 17th. Lake Street Capital restated a “buy” rating and set a $7.00 price objective on shares of NN in a research note on Friday, August 7th. Craig Hallum started coverage on NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Wall Street Zen downgraded NN from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NN has a consensus rating of “Hold” and a consensus target price of $5.67.

NN Trading Up 0.5%

The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. The firm’s 50 day moving average is $3.55 and its two-hundred day moving average is $2.72. The stock has a market cap of $272.93 million, a price-to-earnings ratio of -3.43 and a beta of 2.61.

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

Institutional Investors Weigh In On NN

A number of hedge funds have recently added to or reduced their stakes in the stock. Corre Partners Management LLC bought a new stake in NN in the 2nd quarter valued at about $4,446,707. RBF Capital LLC grew its position in NN by 71.8% in the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock worth $1,211,000 after purchasing an additional 348,945 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of NN in the second quarter valued at approximately $2,743,000. Ranger Investment Management L.P. acquired a new stake in shares of NN in the second quarter valued at approximately $2,040,000. Finally, Renaissance Technologies LLC raised its holdings in shares of NN by 49.4% during the first quarter. Renaissance Technologies LLC now owns 549,040 shares of the industrial products company’s stock valued at $796,000 after buying an additional 181,540 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors.

About NN

NN, Inc is an industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, aerospace and defense, medical, electrical, and general industrial markets. Its products have included precision-machined and molded components, bearings, seals, and other solutions designed for applications that require tight tolerances and reliable performance.

The company historically operated through manufacturing facilities in the United States and other international locations, serving original equipment manufacturers and industrial customers across North America, Europe, and Asia.