Insider Selling: NN (NASDAQ:NNBR) Director Sells $45,264.62 in Stock

NN, Inc. (NASDAQ:NNBR) Director Raymond White sold 18,782 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total transaction of $45,264.62. Following the completion of the sale, the director owned 858,283 shares in the company, valued at $2,068,462.03. This represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

NN Trading Down 4.7%

Shares of NNBR opened at $2.22 on Friday. The company’s fifty day moving average is $1.85 and its 200 day moving average is $1.59. NN, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $2.99. The stock has a market capitalization of $117.15 million, a PE ratio of -2.04, a P/E/G ratio of 0.41 and a beta of 2.54. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $118.45 million for the quarter, compared to analysts’ expectations of $106.59 million. Sell-side analysts expect that NN, Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NN

Large investors have recently bought and sold shares of the company. Susquehanna International Group LLP boosted its position in NN by 60.2% in the third quarter. Susquehanna International Group LLP now owns 77,319 shares of the industrial products company’s stock valued at $159,000 after buying an additional 29,044 shares during the last quarter. XTX Topco Ltd purchased a new stake in NN in the second quarter valued at approximately $156,000. Corient Private Wealth LLC boosted its position in NN by 16.1% in the second quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock valued at $151,000 after buying an additional 10,000 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in NN in the second quarter valued at approximately $147,000. Finally, Bank of America Corp DE boosted its position in NN by 103.1% in the 2nd quarter. Bank of America Corp DE now owns 64,159 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 32,573 shares in the last quarter. Hedge funds and other institutional investors own 53.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NNBR shares. Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. B. Riley Financial lowered shares of NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $3.00.

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.