NN (NASDAQ:NNBR) Rating Increased to Hold at Wall Street Zen

NN (NASDAQ:NNBR - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

NN Stock Up 8.0%

Shares of NASDAQ NNBR traded up $0.16 during trading on Thursday, reaching $2.09. 74,776 shares of the stock were exchanged, compared to its average volume of 293,507. The business's 50-day moving average price is $2.04 and its 200 day moving average price is $2.85. NN has a twelve month low of $1.58 and a twelve month high of $4.67. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $105.18 million, a price-to-earnings ratio of -1.91, a price-to-earnings-growth ratio of 2.01 and a beta of 2.15.

NN (NASDAQ:NNBR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $105.69 million for the quarter, compared to analysts' expectations of $111.96 million. NN had a negative net margin of 8.05% and a negative return on equity of 10.61%. As a group, equities analysts forecast that NN will post -0.2 EPS for the current fiscal year.

Insider Activity at NN

In related news, COO Timothy M. French purchased 44,784 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average cost of $2.08 per share, with a total value of $93,150.72. Following the completion of the acquisition, the chief operating officer now directly owns 374,784 shares of the company's stock, valued at approximately $779,550.72. The trade was a 13.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Harold C. Bevis purchased 45,316 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $2.20 per share, for a total transaction of $99,695.20. Following the completion of the acquisition, the chief executive officer now directly owns 1,463,150 shares of the company's stock, valued at $3,218,930. This represents a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 110,288 shares of company stock valued at $233,662 over the last ninety days. Corporate insiders own 7.94% of the company's stock.

Institutional Trading of NN

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC acquired a new stake in NN in the fourth quarter valued at $43,000. Voya Investment Management LLC bought a new stake in NN during the fourth quarter valued at $47,000. Bailard Inc. bought a new stake in NN during the first quarter valued at $39,000. SG Americas Securities LLC increased its stake in NN by 37.7% during the fourth quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 5,752 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in NN by 209.9% during the fourth quarter. MetLife Investment Management LLC now owns 27,181 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 18,410 shares during the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.

NN Company Profile

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.