NN (NASDAQ:NNBR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of NN (NASDAQ:NNBR) from a sell rating to a hold rating in a report published on Thursday.

NN Stock Performance

NASDAQ NNBR opened at $1.90 on Thursday. The company has a market capitalization of $95.85 million, a price-to-earnings ratio of -1.74, a PEG ratio of 2.01 and a beta of 2.15. NN has a twelve month low of $1.58 and a twelve month high of $4.67. The stock has a fifty day simple moving average of $2.07 and a 200 day simple moving average of $2.88. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 1.27.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $105.69 million during the quarter, compared to the consensus estimate of $111.96 million. NN had a negative return on equity of 10.61% and a negative net margin of 8.05%. Sell-side analysts expect that NN will post -0.2 EPS for the current year.

Insider Activity at NN

In related news, COO Timothy M. French acquired 44,784 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average cost of $2.08 per share, for a total transaction of $93,150.72. Following the completion of the acquisition, the chief operating officer now directly owns 374,784 shares of the company’s stock, valued at approximately $779,550.72. This trade represents a 13.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Harold C. Bevis acquired 45,316 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $2.20 per share, with a total value of $99,695.20. Following the completion of the acquisition, the chief executive officer now directly owns 1,463,150 shares of the company’s stock, valued at $3,218,930. This trade represents a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 110,288 shares of company stock worth $233,662 over the last three months. Company insiders own 7.94% of the company’s stock.

Institutional Trading of NN

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC acquired a new stake in NN during the 4th quarter worth about $43,000. Voya Investment Management LLC acquired a new stake in NN during the 4th quarter worth about $47,000. Bailard Inc. acquired a new stake in NN during the 1st quarter worth about $39,000. SG Americas Securities LLC grew its holdings in NN by 37.7% during the 4th quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 5,752 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in NN by 209.9% during the 4th quarter. MetLife Investment Management LLC now owns 27,181 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 18,410 shares during the period. 53.92% of the stock is currently owned by institutional investors and hedge funds.

NN Company Profile

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.