John Frederick Barrett Sells 94,380 Shares of NN (NASDAQ:NNBR) Stock

Key Points

• John Frederick Barrett sold roughly 1.64 million NNBR shares across multiple April trades (including 94,380 on April 22), generating about $3.93 million in proceeds; the April 22 filing showed he directly held 5,272,384 shares after that sale.
• NNBR shares fell 9.4% to $2.30 on the reported day with above‑average volume, and analysts are mostly negative—Zacks cut to "strong sell," Weiss reaffirmed "sell," B. Riley trimmed its target—leaving a consensus rating of "Reduce" and a $3.00 target.

NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder John Frederick Barrett sold 94,380 shares of the firm's stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $2.30, for a total value of $217,074.00. Following the completion of the sale, the insider directly owned 5,272,384 shares of the company's stock, valued at $12,126,483.20. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

John Frederick Barrett also recently made the following trade(s):

• On Monday, April 27th, John Frederick Barrett sold 136,165 shares of NN stock. The stock was sold at an average price of $2.63, for a total value of $358,113.95.
• On Friday, April 24th, John Frederick Barrett sold 12,199 shares of NN stock. The stock was sold at an average price of $2.51, for a total value of $30,619.49.
• On Thursday, April 23rd, John Frederick Barrett sold 555,305 shares of NN stock. The stock was sold at an average price of $2.69, for a total value of $1,493,770.45.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The stock was sold at an average price of $2.21, for a total value of $122,617.43.
• On Monday, April 20th, John Frederick Barrett sold 79,757 shares of NN stock. The stock was sold at an average price of $2.24, for a total value of $178,655.68.
• On Friday, April 17th, John Frederick Barrett sold 348,161 shares of NN stock. The stock was sold at an average price of $2.29, for a total value of $797,288.69.
• On Thursday, April 16th, John Frederick Barrett sold 40,030 shares of NN stock. The stock was sold at an average price of $2.04, for a total value of $81,661.20.
• On Wednesday, April 15th, John Frederick Barrett sold 315,436 shares of NN stock. The shares were sold at an average price of $2.06, for a total transaction of $649,798.16.

NN Trading Down 9.4%

NNBR traded down $0.24 on Wednesday, hitting $2.30. The company had a trading volume of 984,519 shares, compared to its average volume of 668,485. The firm has a market cap of $115.44 million, a P/E ratio of -2.15, a PEG ratio of 0.51 and a beta of 2.21. NN, Inc. has a 1 year low of $1.10 and a 1 year high of $2.88. The company's fifty day moving average price is $1.67 and its 200 day moving average price is $1.55. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 4.52.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Zacks Research lowered shares of NN from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 11th. Weiss Ratings restated a "sell (d-)" rating on shares of NN in a report on Tuesday, April 21st. Finally, B. Riley Financial reduced their price objective on shares of NN from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, March 6th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $3.00.

Hedge Funds Weigh In On NN

Several institutional investors have recently bought and sold shares of NNBR. XTX Topco Ltd acquired a new position in NN in the 2nd quarter valued at about $156,000. Marshall Wace LLP grew its position in NN by 334.0% in the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company's stock valued at $540,000 after acquiring an additional 197,960 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in NN in the 2nd quarter valued at about $147,000. Jane Street Group LLC acquired a new position in NN in the 2nd quarter valued at about $233,000. Finally, Nantahala Capital Management LLC grew its position in NN by 69.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company's stock valued at $5,127,000 after acquiring an additional 1,000,000 shares in the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.

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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