NN (NASDAQ:NNBR) Earns Buy Rating from Analysts at Craig Hallum

Key Points

• Craig Hallum initiated coverage on NN with a Buy rating and a $7.00 price target, implying roughly 120% upside from the prior close.
• NN’s latest earnings showed a profit surprise, with quarterly EPS of $0.02 versus expectations for a loss, and revenue of $118.45 million topping estimates.
• Recent trading activity has been mixed: major shareholders sold shares in April, while institutional investors have also been adjusting positions, and the stock currently has a Hold consensus rating with a $5.00 average target.

Investment analysts at Craig Hallum assumed coverage on shares of NN (NASDAQ:NNBR - Get Free Report) in a research report issued on Monday, MarketBeat Ratings reports. The firm set a "buy" rating and a $7.00 price target on the industrial products company's stock. Craig Hallum's target price would suggest a potential upside of 120.13% from the company's previous close.

NNBR has been the subject of several other research reports. B. Riley Financial downgraded NN from a "buy" rating to a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded NN from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.00.

NN Price Performance

NN stock opened at $3.18 on Monday. The firm has a market cap of $167.71 million, a price-to-earnings ratio of -2.92 and a beta of 2.56. The company has a debt-to-equity ratio of 6.39, a current ratio of 1.87 and a quick ratio of 1.16. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.44. The firm has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $2.11.

NN (NASDAQ:NNBR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07. The company had revenue of $118.45 million for the quarter, compared to the consensus estimate of $106.59 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%. As a group, analysts forecast that NN will post 0.16 earnings per share for the current year.

Insider Activity at NN

In related news, major shareholder John Frederick Barrett sold 136,165 shares of NN stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95. Following the sale, the insider directly owned 4,568,715 shares of the company's stock, valued at $12,015,720.45. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of NN stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following the sale, the insider directly owned 372,744 shares in the company, valued at approximately $980,316.72. This trade represents a 26.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,725,846 shares of company stock worth $4,489,655. Company insiders own 19.60% of the company's stock.

Institutional Trading of NN

A number of institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd increased its holdings in NN by 29.3% in the 4th quarter. XTX Topco Ltd now owns 73,920 shares of the industrial products company's stock valued at $95,000 after buying an additional 16,732 shares during the period. Quadrature Capital Ltd bought a new position in shares of NN during the 4th quarter worth about $77,000. Captrust Financial Advisors bought a new position in shares of NN during the 4th quarter worth about $90,000. Quinn Opportunity Partners LLC acquired a new stake in shares of NN during the 4th quarter valued at about $32,000. Finally, J.W. Cole Advisors Inc. boosted its position in shares of NN by 11.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 9,600 shares in the last quarter. 53.92% of the stock is currently owned by institutional investors.

About NN

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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