NN (NASDAQ:NNBR) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

NN, Inc. (NASDAQ:NNBR)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.78 and traded as high as $3.06. NN shares last traded at $2.85, with a volume of 1,125,588 shares trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on NNBR. B. Riley Financial cut NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Finally, Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $3.00.

NN Price Performance

The company has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $1.81. The stock has a market cap of $147.23 million, a price-to-earnings ratio of -2.56 and a beta of 2.59. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 6.39.

NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The business had revenue of $118.45 million for the quarter, compared to analyst estimates of $106.59 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%. Research analysts expect that NN, Inc. will post 0.16 EPS for the current year.

Insider Activity at NN

In other news, major shareholder John Frederick Barrett sold 555,305 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $2.69, for a total value of $1,493,770.45. Following the sale, the insider owned 4,717,079 shares of the company’s stock, valued at $12,688,942.51. The trade was a 10.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Corre Partners Management, Llc sold 555,305 shares of the stock in a transaction on 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 transaction, the insider owned 412,427 shares of the company’s stock, valued at $1,109,428.63. The trade was a 57.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,292,614 shares of company stock valued at $7,904,463 over the last ninety days. Company insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On NN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNBR. Two Sigma Investments LP bought a new stake in NN during the 3rd quarter worth about $27,000. Hudson Bay Capital Management LP bought a new position in shares of NN in the 2nd quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in shares of NN in the fourth quarter valued at about $30,000. Quinn Opportunity Partners LLC bought a new stake in NN during the fourth quarter worth about $32,000. Finally, Laurel Oak Wealth Management LLC acquired a new position in NN during the first quarter valued at approximately $72,000. 53.92% of the stock is currently owned by institutional investors and hedge funds.

NN Company Profile

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.