NN (NASDAQ:NNBR) Releases Earnings Results

NN (NASDAQ:NNBR) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $128.74 million during the quarter, compared to the consensus estimate of $116.09 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.

NN Trading Up 1.3%

Shares of NNBR stock traded up $0.05 on Wednesday, hitting $3.90. The stock had a trading volume of 2,512,154 shares, compared to its average volume of 1,556,325. The company has a debt-to-equity ratio of 6.39, a current ratio of 1.87 and a quick ratio of 1.16. The firm has a market capitalization of $205.69 million, a P/E ratio of -3.58 and a beta of 2.57. NN has a 1 year low of $1.10 and a 1 year high of $4.44. The company’s 50 day moving average price is $3.22 and its 200-day moving average price is $2.31.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Finally, Craig Hallum started coverage on shares of NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NN currently has a consensus rating of “Hold” and an average target price of $5.00.

Insider Transactions at NN

In related news, Director Raymond T. White sold 18,782 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total transaction of $45,264.62. Following the completion of the transaction, the director directly owned 858,283 shares in the company, valued at $2,068,462.03. This trade represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 19.60% of the company’s stock.

Institutional Trading of NN

Institutional investors and hedge funds have recently bought and sold shares of the business. J.W. Cole Advisors Inc. lifted its position in shares of NN by 11.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 9,600 shares in the last quarter. Corient Private Wealth LLC increased its stake in NN by 16.1% during the 2nd quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock worth $151,000 after buying an additional 10,000 shares during the period. Two Sigma Investments LP acquired a new stake in NN during the 3rd quarter worth approximately $27,000. Hudson Bay Capital Management LP acquired a new stake in NN during the 2nd quarter worth approximately $29,000. Finally, XTX Topco Ltd lifted its holdings in NN by 29.3% during the 4th quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company’s stock worth $95,000 after buying an additional 16,732 shares in the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

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.