NN, Inc. $NNBR Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of NN, Inc. (NASDAQ:NNBR) by 49.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 549,040 shares of the industrial products company’s stock after acquiring an additional 181,540 shares during the period. Renaissance Technologies LLC’s holdings in NN were worth $796,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NNBR. Nantahala Capital Management LLC grew its stake in shares of NN by 69.4% in the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position 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 valued at $5,792,000 after purchasing an additional 483,952 shares in the last quarter. UBS Group AG grew its position in NN by 15,147.1% in the third quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock worth $576,000 after buying an additional 277,798 shares during the last quarter. First Manhattan CO. LLC. grew its holdings in shares of NN by 8.2% in the 4th quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after acquiring an additional 228,800 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in NN by 469.9% in the 4th quarter. Squarepoint Ops LLC now owns 244,041 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 201,222 shares in the last quarter. 53.92% of the stock is owned by institutional investors.

NN Stock Performance

NNBR stock opened at $3.90 on Friday. The firm has a 50 day moving average of $3.32 and a two-hundred day moving average of $2.41. NN, Inc. has a 12 month low of $1.10 and a 12 month high of $4.48. 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 company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NNBR shares. Wall Street Zen cut shares of NN from a “buy” rating to a “hold” rating in a research report on Sunday. Craig Hallum initiated coverage on shares of NN in a research note on Monday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock. Lake Street Capital reiterated a “buy” rating and set a $7.00 price objective on shares of NN in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research report on Friday, July 17th. Finally, B. Riley Financial downgraded NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.