NN, Inc. (NASDAQ:NNBR)’s share price shot up 5.4% during mid-day trading on Monday . The company traded as high as $6.49 and last traded at $6.39, 154,724 shares were traded during mid-day trading. A decline of 53% from the average session volume of 331,325 shares. The stock had previously closed at $6.06.
A number of brokerages have recently issued reports on NNBR. BidaskClub cut shares of NN from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 15th. ValuEngine cut shares of NN from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $14.35.
The firm has a market cap of $256.74 million, a PE ratio of 5.41 and a beta of 1.61. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.27 and a current ratio of 2.13. The company’s 50-day simple moving average is $7.80 and its two-hundred day simple moving average is $8.63.
In related news, Director David Floyd acquired 9,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $8.05 per share, for a total transaction of $72,450.00. Following the acquisition, the director now owns 23,660 shares of the company’s stock, valued at $190,463. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Robert Atkinson acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was bought at an average price of $8.65 per share, with a total value of $25,950.00. Following the completion of the acquisition, the executive vice president now directly owns 21,550 shares in the company, valued at approximately $186,407.50. The disclosure for this purchase can be found here. Corporate insiders own 2.48% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in NN by 150.4% in the 2nd quarter. Bank of Montreal Can now owns 5,939 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 3,567 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in NN in the 2nd quarter worth $68,000. Quantamental Technologies LLC bought a new position in NN in the 1st quarter worth $55,000. Legal & General Group Plc raised its holdings in NN by 69.0% in the 4th quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 2,981 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in NN by 343.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 6,785 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.
About NN (NASDAQ:NNBR)
NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.
Receive News & Ratings for NN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN and related companies with MarketBeat.com's FREE daily email newsletter.