NN (NASDAQ:NNBR) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

NN, Inc. (NASDAQ:NNBR - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.16 and traded as high as $2.28. NN shares last traded at $2.21, with a volume of 18,395 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NNBR. Zacks Research upgraded NN to a "hold" rating in a research note on Friday, September 12th. B. Riley initiated coverage on NN in a research note on Thursday, July 31st. They issued a "buy" rating and a $4.00 price objective on the stock. One 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.com, the stock has a consensus rating of "Buy" and a consensus price target of $4.00.

NN Price Performance

The business has a 50-day moving average of $2.28 and a two-hundred day moving average of $2.16. The company has a current ratio of 1.93, a quick ratio of 1.22 and a debt-to-equity ratio of 2.59. The firm has a market cap of $111.49 million, a P/E ratio of -1.96 and a beta of 2.17.

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

Institutional Investors Weigh In On NN

A number of institutional investors have recently added to or reduced their stakes in NNBR. Nantahala Capital Management LLC raised its stake in shares of NN by 69.4% during 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 last quarter. Paradigm Capital Management Inc. NY increased its holdings in NN by 21.3% in the second 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 bought a new position in NN during the 2nd quarter worth $601,000. Marshall Wace LLP lifted its holdings in NN by 334.0% during the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company's stock worth $540,000 after buying an additional 197,960 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of NN in the 2nd quarter valued at about $343,000. 53.92% of the stock is owned by institutional investors.

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.

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