NN (NASDAQ:NNBR) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of NN (NASDAQ:NNBR) from a buy rating to a hold rating in a research report report published on Sunday morning.

A number of other equities analysts have also commented on NNBR. Craig Hallum initiated coverage on shares of NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock. B. Riley Financial downgraded shares of NN from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research report on Friday, July 17th. Lake Street Capital reissued a “buy” rating and issued a $7.00 target price on shares of NN in a research note on Friday, August 7th. Finally, Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, NN currently has an average rating of “Hold” and an average price target of $5.67.

NN Price Performance

Shares of NASDAQ NNBR opened at $3.90 on Friday. NN has a 12 month low of $1.10 and a 12 month high of $4.48. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70. The firm has a market capitalization of $322.06 million, a price-to-earnings ratio of -4.06 and a beta of 2.57. The business has a 50-day moving average of $3.32 and a 200-day moving average of $2.41.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The company had revenue of $128.74 million for the quarter, compared to analysts’ expectations of $116.09 million. Sell-side analysts expect that NN will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NN

A number of hedge funds have recently made changes to their positions in NNBR. Addison Advisors LLC purchased a new stake in shares of NN in the 2nd quarter valued at $39,000. AIGH Capital Management LLC purchased a new position in NN in the 2nd quarter worth $41,000. AssuredPartners Investment Advisors LLC purchased a new position in NN in the 2nd quarter worth $44,000. Two Sigma Investments LP bought a new stake in NN in the third quarter worth $27,000. Finally, Nierenberg Investment Management Company LLC bought a new stake in NN in the second quarter worth $48,662,000. 53.92% of the stock is currently owned by institutional investors.

About NN

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.