NN, Inc. (NASDAQ:NNBR) Stock Now Rated “Hold” by Wall Street Analysts

Shares of NN, Inc. (NASDAQ:NNBR) have earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.67.

A number of equities analysts have weighed in on NNBR shares. Craig Hallum began coverage on NN in a research note on Monday, July 20th. They set a “buy” rating and a $7.00 price objective on the stock. Lake Street Capital restated a “buy” rating and issued a $7.00 target price on shares of NN in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded NN from a “hold” rating to a “buy” rating in a report on Saturday, September 19th.

Hedge Funds Weigh In On NN

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in NN in the second quarter valued at approximately $2,743,000. RBF Capital LLC increased its stake in NN by 71.8% during the first 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 last quarter. Corre Partners Management LLC acquired a new stake in NN during the second quarter worth $4,446,707. Walleye Capital LLC purchased a new stake in NN in the second quarter valued at $1,962,000. Finally, Bank of America Corp DE purchased a new stake in NN in the second quarter valued at $813,000. 53.92% of the stock is owned by hedge funds and other institutional investors.

NN Stock Up 24.2%

NNBR stock opened at $4.51 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70. The firm has a 50-day moving average of $3.61 and a two-hundred day moving average of $2.92. NN has a 12 month low of $1.10 and a 12 month high of $4.79. The company has a market cap of $372.44 million, a price-to-earnings ratio of -4.70 and a beta of 2.65.

NN (NASDAQ:NNBR) last issued its 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%. As a group, analysts forecast that NN will post 0.15 earnings per share for the current fiscal year.

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.