NN (NASDAQ:NNBR) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• NN shares moved above their 200-day moving average, reaching $3.70 before closing at $3.54, versus a 200-day average of $2.20.
• Analyst sentiment remains mixed: NN has an average “Hold” rating and a $5.00 consensus price target, with ratings ranging from Sell to Buy.
• The company exceeded quarterly expectations, reporting $0.02 in EPS versus a projected loss of $0.05 and revenue of $118.45 million versus the $106.59 million consensus estimate.

Shares of NN, Inc. (NASDAQ:NNBR - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.20 and traded as high as $3.70. NN shares last traded at $3.54, with a volume of 960,232 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of NN in a research report on Friday, July 17th. Zacks Research raised shares of NN from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. B. Riley Financial downgraded shares of NN from a "buy" rating to a "neutral" rating in a research note on Monday, May 11th. Finally, Craig Hallum assumed coverage on shares of NN in a research note on Monday, July 20th. They set a "buy" rating and a $7.00 price target on the stock. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.00.

NN Stock Performance

The stock has a 50-day simple moving average of $3.09 and a 200-day simple moving average of $2.20. The company has a debt-to-equity ratio of 6.39, a current ratio of 1.87 and a quick ratio of 1.16. The stock has a market cap of $186.70 million, a PE ratio of -3.25 and a beta of 2.56.

NN (NASDAQ:NNBR - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.02 EPS for the quarter, topping analysts' consensus estimates 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%. Equities analysts predict that NN, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at NN

In related news, Director Raymond T. White sold 18,782 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total transaction of $45,264.62. Following the completion of the sale, the director owned 858,283 shares of the company's stock, valued at approximately $2,068,462.03. This represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.60% of the company's stock.

Institutional Investors Weigh In On NN

Institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new stake in shares of NN in the third quarter worth $27,000. Hudson Bay Capital Management LP purchased a new position in shares of NN in the 2nd quarter valued at $29,000. Virtu Financial LLC acquired a new position in shares of NN during the 4th quarter valued at $30,000. Quinn Opportunity Partners LLC acquired a new position in shares of NN during the 4th quarter valued at $32,000. Finally, Laurel Oak Wealth Management LLC purchased a new stake in NN during the 1st quarter worth $72,000. 53.92% of the stock is currently owned by hedge funds and other 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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