NN (NASDAQ:NNBR) Announces Quarterly Earnings Results

NN (NASDAQ:NNBR) released its quarterly earnings results on Wednesday. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $128.74 million for the quarter, compared to the consensus estimate of $116.09 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.

NN Price Performance

NN stock traded up $0.05 during trading hours on Wednesday, hitting $3.90. 2,512,154 shares of the company traded hands, compared to its average volume of 1,556,325. NN has a 1-year low of $1.10 and a 1-year high of $4.44. The firm has a market cap of $205.69 million, a P/E ratio of -3.58 and a beta of 2.57. The firm’s 50-day simple moving average is $3.22 and its two-hundred day simple moving average is $2.31. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 6.39.

Insider Buying and Selling at NN

In related news, Director Raymond T. White sold 18,782 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total transaction of $45,264.62. Following the transaction, the director owned 858,283 shares in the company, valued at $2,068,462.03. This trade represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.60% of the company’s stock.

Institutional Trading of NN

Institutional investors have recently modified their holdings of the company. Ancora Advisors LLC boosted its position in shares of NN by 74.2% during the 3rd quarter. Ancora Advisors LLC now owns 290,770 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 123,810 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of NN by 334.0% in the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 197,960 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of NN by 291.0% during the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 273,500 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of NN by 469.9% in the 4th quarter. Squarepoint Ops LLC now owns 244,041 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 201,222 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in NN during the 4th quarter worth about $230,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NNBR. Craig Hallum initiated coverage on NN in a research note on Monday, July 20th. They set a “buy” rating and a $7.00 price target for the company. B. Riley Financial downgraded shares of NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Finally, Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

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.