NN (NASDAQ:NNBR) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

NN, Inc. (NASDAQ:NNBR) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.08 and traded as high as $3.49. NN shares last traded at $3.35, with a volume of 1,098,756 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on NNBR. Zacks Research raised shares of 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 research note on Tuesday, April 21st. Finally, B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $3.00.

NN Stock Performance

The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 6.39. The firm has a market capitalization of $167.45 million, a price-to-earnings ratio of -2.93 and a beta of 2.56. The company has a 50-day moving average of $2.94 and a 200-day moving average of $2.10.

NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. NN had a negative net margin of 7.85% and a positive return on equity of 4.54%. The firm had revenue of $118.45 million during the quarter, compared to the consensus estimate of $106.59 million. On average, equities research analysts forecast that NN, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Corre Partners Management, Llc sold 555,305 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $2.69, for a total transaction of $1,493,770.45. Following the sale, the insider owned 412,427 shares in the company, valued at $1,109,428.63. This represents a 57.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder John Frederick Barrett sold 555,305 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $2.69, for a total transaction of $1,493,770.45. Following the completion of the transaction, the insider directly owned 4,717,079 shares in the company, valued at $12,688,942.51. This represents a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,885,360 shares of company stock valued at $4,846,967 over the last ninety days. Company insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On NN

Several institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of NN during the 2nd quarter worth approximately $156,000. Marshall Wace LLP boosted its position in NN by 334.0% during the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 197,960 shares during the period. Qube Research & Technologies Ltd acquired a new position in NN during the 2nd quarter valued at approximately $147,000. Jane Street Group LLC bought a new position in NN during the 2nd quarter worth $233,000. Finally, Nantahala Capital Management LLC grew its stake in NN by 69.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after buying an additional 1,000,000 shares during the last quarter. 53.92% of the stock is owned by institutional investors.

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.