B. Riley Begins 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.

Analysts at B. Riley assumed coverage on shares of NN (NASDAQ:NNBR - Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $4.00 price target on the industrial products company's stock. B. Riley's price objective would suggest a potential upside of 83.07% from the company's previous close.

Separately, Wall Street Zen raised NN from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

NN Trading Up 9.3%

NN stock traded up $0.19 during trading on Thursday, hitting $2.19. The company's stock had a trading volume of 107,815 shares, compared to its average volume of 418,943. NN has a 1-year low of $1.58 and a 1-year high of $4.67. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.22 and a current ratio of 1.92. The stock's fifty day moving average is $2.08 and its 200 day moving average is $2.34. The stock has a market capitalization of $110.23 million, a price-to-earnings ratio of -2.23 and a beta of 2.03.

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

Insider Buying and Selling at NN

In other NN news, COO Timothy M. French purchased 44,784 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $2.08 per share, with a total value of $93,150.72. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harold C. Bevis bought 45,316 shares of NN stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $99,695.20. Following the completion of the acquisition, the chief executive officer owned 1,463,150 shares in the company, valued at $3,218,930. This represents a 3.20% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 110,288 shares of company stock worth $233,662 in the last 90 days. 7.94% of the stock is owned by corporate insiders.

Institutional Trading of NN

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in NN by 53.6% during the fourth quarter. Bank of America Corp DE now owns 40,124 shares of the industrial products company's stock worth $131,000 after acquiring an additional 14,002 shares during the period. Voya Investment Management LLC bought a new stake in NN in the 4th quarter valued at about $47,000. ProShare Advisors LLC bought a new stake in NN in the 4th quarter valued at about $43,000. Northern Trust Corp raised its stake 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 acquiring an additional 18,492 shares during the period. Finally, Barclays PLC raised its holdings in NN by 15.3% during the 4th quarter. Barclays PLC now owns 69,973 shares of the industrial products company's stock valued at $229,000 after acquiring an additional 9,289 shares during the period. Institutional investors own 53.92% of the company's stock.

NN Company Profile

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.