NN (NASDAQ:NNBR) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• NN, Inc. (NASDAQ:NNBR) shares moved above their 200-day moving average, trading as high as $3.49 and last changing hands at $3.35.
• Analysts remain cautious: recent ratings included a sell from Weiss Ratings, a hold upgrade from Zacks, and a downgrade to neutral from B. Riley, with MarketBeat showing an average "Reduce" rating and $3.00 price target.
• The company beat its latest quarterly earnings and revenue estimates, reporting $0.02 EPS versus a loss estimate and $118.45 million in revenue, while insiders have recently sold shares and institutional ownership remains significant at 53.92%.

NN, Inc. (NASDAQ:NNBR - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.08 and traded as high as $3.49. NN shares last traded at $3.35, with a volume of 1,098,756 shares traded.

Wall Street Analyst Weigh In

NNBR has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a research report on Tuesday, April 21st. Zacks Research raised NN from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, B. Riley Financial cut NN from a "buy" rating to a "neutral" rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, NN presently has an average rating of "Reduce" and an average price target of $3.00.

NN Price Performance

The firm has a 50-day moving average of $2.94 and a 200-day moving average of $2.08. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.16 and a current ratio of 1.87. The firm has a market capitalization of $176.79 million, a P/E ratio of -3.07 and a beta of 2.56.

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

Insider Transactions at NN

In related news, Director Raymond T. White sold 18,782 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total value of $45,264.62. Following the sale, the director owned 858,283 shares in the company, valued at approximately $2,068,462.03. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder John Frederick Barrett sold 136,165 shares of NN stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95. Following the completion of the sale, the insider directly owned 4,568,715 shares of the company's stock, valued at approximately $12,015,720.45. This trade represents a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,581,682 shares of company stock worth $6,441,544 over the last three months. 19.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NN

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC lifted its holdings in NN by 69.4% in the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company's stock valued at $5,127,000 after acquiring an additional 1,000,000 shares during the period. Paradigm Capital Management Inc. NY grew its stake in shares of NN by 21.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company's stock valued at $5,792,000 after purchasing an additional 483,952 shares during the period. RBF Capital LLC grew its stake in shares of NN by 71.8% during the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company's stock valued at $1,211,000 after purchasing an additional 348,945 shares during the period. UBS Group AG increased its position in shares of NN by 15,147.1% during the 3rd quarter. UBS Group AG now owns 279,632 shares of the industrial products company's stock valued at $576,000 after purchasing an additional 277,798 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of NN by 291.0% during the 4th quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company's stock valued at $470,000 after purchasing an additional 273,500 shares during the last quarter. 53.92% of the stock is 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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