Craig Hallum Initiates Coverage on NN (NASDAQ:NNBR)

Equities research analysts at Craig Hallum initiated coverage on shares of NN (NASDAQ:NNBR) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $7.00 price target on the industrial products company’s stock. Craig Hallum’s price target would indicate a potential upside of 120.13% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. B. Riley Financial cut 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 report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.00.

NN Stock Performance

Shares of NASDAQ:NNBR opened at $3.18 on Monday. The business’s fifty day moving average price is $2.95 and its two-hundred day moving average price is $2.11. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.44. The stock has a market capitalization of $167.71 million, a price-to-earnings ratio of -2.92 and a beta of 2.56. The company has a debt-to-equity ratio of 6.39, a current ratio of 1.87 and a quick ratio of 1.16.

NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.07. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.The firm had revenue of $118.45 million during the quarter, compared to analyst estimates of $106.59 million. As a group, analysts predict that NN will post 0.16 EPS for the current fiscal year.

Insider Transactions at NN

In other news, major shareholder Corre Partners Management, Llc sold 136,165 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the sale, the insider directly owned 372,744 shares in the company, valued at approximately $980,316.72. This trade represents a 26.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder John Frederick Barrett sold 136,165 shares of NN stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the transaction, the insider directly owned 4,568,715 shares of the company’s stock, valued at $12,015,720.45. This represents a 2.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,725,846 shares of company stock worth $4,489,655. Insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On NN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNBR. Two Sigma Investments LP bought a new position in shares of NN in the third quarter worth about $27,000. Hudson Bay Capital Management LP bought a new stake in shares of NN during the second quarter valued at approximately $29,000. Virtu Financial LLC bought a new stake in shares of NN during the fourth quarter valued at approximately $30,000. Quinn Opportunity Partners LLC acquired a new stake in shares of NN in the fourth quarter valued at approximately $32,000. Finally, Laurel Oak Wealth Management LLC bought a new position in NN in the 1st quarter worth approximately $72,000. Institutional investors and hedge funds own 53.92% of the company’s stock.

NN Company Profile

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.