NN (NASDAQ:NNBR) Shares Up 5.4%

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.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $221.70 million for the quarter, compared to analysts’ expectations of $217.95 million. NN had a negative net margin of 30.86% and a positive return on equity of 8.04%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. On average, analysts expect that NN, Inc. will post 1.08 EPS for the current year.

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.

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