NN, Inc. $NNBR Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in NN, Inc. (NASDAQ:NNBR) by 49.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 549,040 shares of the industrial products company’s stock after purchasing an additional 181,540 shares during the period. Renaissance Technologies LLC owned 1.04% of NN worth $796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NNBR. First Manhattan CO. LLC. boosted its stake in shares of NN by 8.2% during the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after buying an additional 228,800 shares during the period. Nomura Holdings Inc. lifted its holdings in NN by 0.6% in the third quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock valued at $6,117,000 after acquiring an additional 18,615 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in shares of NN by 21.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock valued at $5,792,000 after purchasing an additional 483,952 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in shares of NN by 69.4% in the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after purchasing an additional 1,000,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in NN by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 620,060 shares of the industrial products company’s stock worth $794,000 after buying an additional 59,225 shares in the last quarter. Hedge funds and other institutional investors own 53.92% of the company’s stock.

NN Stock Performance

NN stock opened at $3.90 on Friday. NN, Inc. has a 52 week low of $1.10 and a 52 week 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 stock has a market cap of $322.06 million, a P/E ratio of -4.06 and a beta of 2.57. The stock has a 50 day moving average of $3.32 and a 200-day moving average of $2.41.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share for the quarter. The company had revenue of $128.74 million during the quarter, compared to the consensus estimate of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. On average, analysts expect that NN, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NNBR shares. Wall Street Zen cut NN from a “buy” rating to a “hold” rating in a report on Sunday. Craig Hallum assumed coverage on shares of NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 price target for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $7.00 price objective on shares of NN in a research report on Friday, August 7th. Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.67.

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.