NN, Inc. $NNBR Stock Bought by AIGH Capital Management LLC

Key Points

• AIGH Capital Management sharply increased its NN stake in the third quarter, adding about 7.52 million shares to own 7.53 million shares, or roughly 8.03% of the company. NN now represents 2.8% of the firm’s portfolio.
• NN reported quarterly EPS of $0.07, beating the $0.02 consensus, and revenue of $131.1 million versus estimates of $118.1 million.
• Analyst views are mixed but average to a Moderate Buy, with a $5.67 average price target; shares opened at $2.67 after a reported 17.3% drop.

AIGH Capital Management LLC grew its position in NN, Inc. (NASDAQ:NNBR - Free Report) by 65,414.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,531,532 shares of the industrial products company's stock after purchasing an additional 7,520,036 shares during the period. NN comprises approximately 2.8% of AIGH Capital Management LLC's holdings, making the stock its 9th biggest holding. AIGH Capital Management LLC owned about 8.03% of NN worth $27,641,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Wyoming bought a new stake in NN during the third quarter worth about $36,000. Addison Advisors LLC bought a new stake in shares of NN during the second quarter worth $39,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of NN during the second quarter worth $44,000. Nierenberg Investment Management Company LLC acquired a new stake in shares of NN in the second quarter valued at $48,662. Finally, State Street Corp increased its stake in shares of NN by 6.6% in the second quarter. State Street Corp now owns 224,344 shares of the industrial products company's stock valued at $805,000 after buying an additional 13,835 shares in the last quarter. Institutional investors and hedge funds own 53.92% of the company's stock.

Analysts Set New Price Targets

NNBR has been the topic of a number of research analyst reports. Lake Street Capital reissued a "buy" rating and set a $7.00 price objective on shares of NN in a report on Friday, August 7th. Wall Street Zen downgraded shares of NN from a "buy" rating to a "hold" rating in a research note on Saturday, October 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of NN in a research report on Thursday, October 15th. Craig Hallum started coverage on shares of NN in a research note on Monday, July 20th. They set a "buy" rating and a $7.00 price target on the stock. Finally, Zacks Research raised shares of NN from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $5.67.

NN Stock Down 17.3%

Shares of NASDAQ:NNBR opened at $2.67 on Friday. NN, Inc. has a one year low of $1.10 and a one year high of $4.79. The company has a 50 day moving average of $3.61 and a 200-day moving average of $2.75. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.75 and a quick ratio of 1.07. The stock has a market cap of $250.30 million, a price-to-earnings ratio of -3.10 and a beta of 2.74.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. The business had revenue of $131.10 million during the quarter, compared to the consensus estimate of $118.10 million. NN had a negative net margin of 5.43% and a positive return on equity of 25.25%. On average, sell-side analysts forecast that NN, Inc. will post 0.20 earnings per share for the current year.

About NN

NN, Inc NASDAQ: NNBR is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.

The company's manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.

Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.

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