NN (NASDAQ:NNBR) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• Shares of NN, Inc. crossed above their 200-day moving average of $2.18, with recent trading reaching $2.41.
• Analysts have upgraded NNBR's rating to "hold" and "buy," with a consensus target price of $4.00.
• The company reported a net margin of -8.84% and revenue of $107.92 million last quarter, exceeding analyst expectations for earnings per share.

NN, Inc. (NASDAQ:NNBR - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.18 and traded as high as $2.41. NN shares last traded at $2.31, with a volume of 46,705 shares changing hands.

Analyst Ratings Changes

NNBR has been the topic of several analyst reports. Zacks Research upgraded shares of NN to a "hold" rating in a report on Friday, September 12th. B. Riley started coverage on shares of NN in a report on Thursday, July 31st. They set a "buy" rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, NN has an average rating of "Buy" and an average target price of $4.00.

NN Price Performance

The stock's 50-day moving average is $2.27 and its 200 day moving average is $2.17. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.93 and a quick ratio of 1.22. The company has a market cap of $113.01 million, a PE ratio of -1.98 and a beta of 2.17.

NN (NASDAQ:NNBR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. NN had a negative net margin of 8.84% and a negative return on equity of 5.29%. The business had revenue of $107.92 million for the quarter, compared to analyst estimates of $110.45 million. On average, equities analysts anticipate that NN, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Catalyst Funds Management Pty Ltd purchased a new stake in NN in the second quarter valued at $27,000. Hudson Bay Capital Management LP purchased a new stake in NN in the second quarter valued at $29,000. Bailard Inc. purchased a new stake in NN in the first quarter valued at $39,000. Quadrature Capital Ltd purchased a new stake in NN in the second quarter valued at $40,000. Finally, ProShare Advisors LLC purchased a new stake in NN in the fourth quarter valued at $43,000. 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.