B. Riley Initiates Coverage on NN (NASDAQ:NNBR)

Key Points

• B. Riley initiated coverage of NN (NASDAQ:NNBR) with a "buy" rating and set a target price of $4.00, indicating a potential upside of 105.13%.
• Insider activity included significant purchases by CEO Harold C. Bevis and COO Timothy M. French, increasing their holdings, with a total of 110,288 shares acquired over the last quarter.
• The stock opened at $1.95 and has a market cap of $98.38 million, with a 52-week range between $1.58 and $4.67.

Equities researchers at B. Riley started coverage on shares of NN (NASDAQ:NNBR - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The brokerage set a "buy" rating and a $4.00 price target on the industrial products company's stock. B. Riley's target price would indicate a potential upside of 100.00% from the company's current price.

Separately, Wall Street Zen upgraded shares of NN from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

NN Stock Performance

NNBR stock traded up $0.05 during trading hours on Thursday, reaching $2.00. The stock had a trading volume of 380,769 shares, compared to its average volume of 92,200. The stock has a market capitalization of $100.90 million, a PE ratio of -2.02 and a beta of 2.03. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.92 and a quick ratio of 1.22. The stock has a 50-day simple moving average of $2.08 and a 200 day simple moving average of $2.34. NN has a fifty-two week low of $1.58 and a fifty-two week high of $4.67.

NN (NASDAQ:NNBR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The firm had revenue of $105.69 million during the quarter, compared to analysts' expectations of $111.96 million. NN had a negative net margin of 7.22% and a negative return on equity of 6.24%. Analysts predict that NN will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Timothy M. French acquired 44,784 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were purchased at an average cost of $2.08 per share, with a total value of $93,150.72. Following the acquisition, the chief operating officer directly owned 374,784 shares in the company, valued at $779,550.72. This represents a 13.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Harold C. Bevis acquired 45,316 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $2.20 per share, with a total value of $99,695.20. Following the purchase, the chief executive officer directly owned 1,463,150 shares in the company, valued at approximately $3,218,930. This represents a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 110,288 shares of company stock worth $233,662. Insiders own 7.94% of the company's stock.

Institutional Trading of NN

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in NN by 53.6% in the 4th quarter. Bank of America Corp DE now owns 40,124 shares of the industrial products company's stock valued at $131,000 after buying an additional 14,002 shares during the period. Voya Investment Management LLC bought a new position in NN in the 4th quarter valued at about $47,000. ProShare Advisors LLC bought a new position in NN in the 4th quarter valued at about $43,000. Northern Trust Corp increased its holdings in NN by 5.2% in the 4th quarter. Northern Trust Corp now owns 372,945 shares of the industrial products company's stock valued at $1,220,000 after buying an additional 18,492 shares during the period. Finally, Barclays PLC increased its holdings in NN by 15.3% in the 4th quarter. Barclays PLC now owns 69,973 shares of the industrial products company's stock valued at $229,000 after buying an additional 9,289 shares during the period. Institutional investors and hedge funds own 53.92% of the company's stock.

About NN

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.