NN (NASDAQ:NNBR) Rating Increased to Strong-Buy at B. Riley

NN (NASDAQ:NNBR) was upgraded by equities research analysts at B. Riley to a “strong-buy” rating in a research note issued on Wednesday, MarketBeat.com reports.

Separately, Wall Street Zen raised shares of NN from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

NN Stock Up 9.0%

NN stock opened at $2.18 on Wednesday. The stock has a market cap of $109.98 million, a price-to-earnings ratio of -2.20 and a beta of 2.03. The company has a current ratio of 1.92, a quick ratio of 1.22 and a debt-to-equity ratio of 2.19. The company’s 50-day moving average price is $2.08 and its two-hundred day moving average price is $2.34. NN has a 52 week low of $1.58 and a 52 week high of $4.67.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, May 7th. The industrial products company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $105.69 million for the quarter, compared to analysts’ expectations of $111.96 million. NN had a negative net margin of 7.22% and a negative return on equity of 6.24%. On average, analysts expect that NN will post -0.2 EPS for the current fiscal year.

Insider Activity at NN

In other NN news, COO Timothy M. French acquired 44,784 shares of the stock in a transaction dated Tuesday, May 13th. The shares were bought at an average price of $2.08 per share, with a total value of $93,150.72. Following the purchase, the chief operating officer directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Harold C. Bevis acquired 45,316 shares of the stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $99,695.20. Following the purchase, the chief executive officer directly owned 1,463,150 shares in the company, valued at approximately $3,218,930. The trade was a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 110,288 shares of company stock worth $233,662 in the last ninety days. Corporate insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC acquired a new position in shares of NN in the fourth quarter worth about $43,000. Voya Investment Management LLC acquired a new position in shares of NN in the fourth quarter worth about $47,000. Bailard Inc. acquired a new position in shares of NN in the first quarter worth about $39,000. MetLife Investment Management LLC boosted its holdings in shares of NN by 209.9% in the fourth quarter. MetLife Investment Management LLC now owns 27,181 shares of the industrial products company’s stock worth $89,000 after buying an additional 18,410 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of NN by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 27,306 shares of the industrial products company’s stock worth $89,000 after buying an additional 6,165 shares during the period. 53.92% of the stock is currently owned by institutional investors and hedge funds.

About NN

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.