NN (NASDAQ:NNBR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NN (NASDAQ:NNBR) from a sell rating to a hold rating in a research note issued to investors on Thursday.

NN Trading Up 1.6%

Shares of NNBR stock opened at $1.93 on Thursday. NN has a 1 year low of $1.58 and a 1 year high of $4.67. The firm has a market capitalization of $97.36 million, a PE ratio of -1.77, a price-to-earnings-growth ratio of 2.01 and a beta of 2.15. The stock has a fifty day moving average of $2.05 and a two-hundred day moving average of $2.86. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.18 and a current ratio of 1.96.

NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $105.69 million for the quarter, compared to analysts’ expectations of $111.96 million. NN had a negative net margin of 8.05% and a negative return on equity of 10.61%. As a group, research analysts expect that NN will post -0.2 EPS for the current year.

Insider Activity

In other news, CEO Harold C. Bevis purchased 45,316 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $99,695.20. Following the transaction, the chief executive officer now owns 1,463,150 shares in the company, valued at $3,218,930. This trade represents a 3.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Timothy M. French acquired 44,784 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average cost of $2.08 per share, for a total transaction of $93,150.72. Following the purchase, the chief operating officer now directly owns 374,784 shares in the company, valued at approximately $779,550.72. This represents a 13.57% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 110,288 shares of company stock worth $233,662 over the last three months. Corporate insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NNBR. Bailard Inc. bought a new stake in NN in the first quarter worth about $39,000. ProShare Advisors LLC bought a new stake in shares of NN in the 4th quarter worth approximately $43,000. Voya Investment Management LLC bought a new stake in shares of NN in the 4th quarter worth approximately $47,000. SG Americas Securities LLC lifted its stake in NN by 37.7% during the fourth quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 5,752 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in NN by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 27,306 shares of the industrial products company’s stock worth $89,000 after buying an additional 6,165 shares in the last quarter. Institutional investors own 53.92% of the company’s stock.

About NN

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.