NN (NASDAQ:NNBR) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of NN (NASDAQ:NNBR) from a strong sell rating to a hold rating in a research note published on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on NNBR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research report on Tuesday, April 21st. B. Riley Financial decreased their price target on NN from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.00.

NN Trading Up 9.5%

NNBR opened at $2.76 on Wednesday. NN has a fifty-two week low of $1.10 and a fifty-two week high of $2.99. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.83 and a quick ratio of 1.09. The firm has a market capitalization of $138.52 million, a price-to-earnings ratio of -2.53, a PEG ratio of 0.49 and a beta of 2.54. The company’s 50 day moving average price is $1.74 and its two-hundred day moving average price is $1.57.

NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07. The firm had revenue of $118.45 million during the quarter, compared to the consensus estimate of $106.59 million. NN had a negative net margin of 7.85% and a positive return on equity of 4.03%. As a group, research analysts predict that NN will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Corre Partners Management, Llc sold 136,165 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $2.63, for a total value of $358,113.95. Following the transaction, the insider owned 372,744 shares in the company, valued at $980,316.72. The trade was a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder John Frederick Barrett sold 136,165 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $2.63, for a total transaction of $358,113.95. Following the completion of the transaction, the insider owned 4,568,715 shares in the company, valued at approximately $12,015,720.45. The trade was a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,273,832 shares of company stock worth $7,859,198. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NNBR. Nantahala Capital Management LLC boosted its position in shares of 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 valued at $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in NN by 21.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock worth $5,792,000 after purchasing an additional 483,952 shares during the period. UBS Group AG increased its holdings 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 purchasing an additional 277,798 shares in the last quarter. Renaissance Technologies LLC increased its holdings in NN by 291.0% in the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 273,500 shares in the last quarter. Finally, First Manhattan CO. LLC. lifted its stake in NN by 8.2% in the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock valued at $3,845,000 after buying an additional 228,800 shares during the period. 53.92% of the stock is owned by institutional investors and hedge funds.

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.