Walleye Capital LLC Makes New Investment in NN, Inc. $NNBR

Key Points

• Walleye Capital purchased 546,652 shares of NN, Inc. worth approximately $1.96 million, giving it a 1.04% stake. Institutional investors collectively own 53.92% of the company.
• NN shares traded up 8.0% to $3.90, near the upper end of their $1.10–$4.48 52-week range. The company recently reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ estimates.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $5.67; two analysts rate the stock Buy, two Hold, and one Sell.

Walleye Capital LLC purchased a new position in NN, Inc. (NASDAQ:NNBR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 546,652 shares of the industrial products company's stock, valued at approximately $1,962,000. Walleye Capital LLC owned about 1.04% of NN at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NNBR. Two Sigma Investments LP purchased a new stake in shares of NN during the third quarter valued at $27,000. Hudson Bay Capital Management LP purchased a new position in NN in the 2nd quarter worth about $29,000. Virtu Financial LLC purchased a new position in NN in the 4th quarter worth about $30,000. Quinn Opportunity Partners LLC bought a new position in NN during the 4th quarter valued at about $32,000. Finally, Laurel Oak Wealth Management LLC bought a new position in NN during the 1st quarter valued at about $72,000. 53.92% of the stock is owned by institutional investors.

NN Trading Up 8.0%

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 market cap of $322.06 million, a P/E ratio of -4.06 and a beta of 2.57. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. The business has a 50-day simple moving average of $3.32 and a two-hundred day simple moving average of $2.41.

NN (NASDAQ:NNBR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share for the quarter. The firm had revenue of $128.74 million for the quarter, compared to analysts' expectations of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. Analysts predict that NN, Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NNBR shares. Lake Street Capital reaffirmed a "buy" rating and set a $7.00 price target on shares of NN in a report on Friday, August 7th. Wall Street Zen upgraded shares of NN from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of NN in a research report on Friday, July 17th. Craig Hallum initiated coverage on shares of NN in a report on Monday, July 20th. They issued a "buy" rating and a $7.00 target price on the stock. Finally, B. Riley Financial downgraded shares of NN from a "buy" rating to a "neutral" rating in a research report on Monday, May 11th. Two equities 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.

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