NN (NASDAQ:NNBR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded NN from “hold” to “buy,” although broader analyst sentiment remains “Hold,” with a consensus price target of $5.67.
• NN reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ revenue estimate of $116.09 million; analysts expect full-year EPS of $0.16.
• The stock opened at $3.77, up significantly from its 52-week low of $1.10, but the company carries high leverage with a debt-to-equity ratio of 7.70 and continues to report a negative net margin.

NN (NASDAQ:NNBR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other research analysts have also weighed in on the stock. Zacks Research raised shares of NN from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of NN in a report on Friday, July 17th. B. Riley Financial downgraded NN from a "buy" rating to a "neutral" rating in a research report on Monday, May 11th. Lake Street Capital reaffirmed a "buy" rating and issued a $7.00 price target on shares of NN in a research note on Friday. Finally, Craig Hallum began coverage on NN in a research report on Monday, July 20th. They set a "buy" rating and a $7.00 price target for the company. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, NN currently has a consensus rating of "Hold" and a consensus target price of $5.67.

NN Stock Performance

NASDAQ:NNBR opened at $3.77 on Friday. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.16 and a current ratio of 1.79. The company has a fifty day moving average of $3.26 and a two-hundred day moving average of $2.33. The stock has a market capitalization of $198.83 million, a PE ratio of -3.93 and a beta of 2.57. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.48.

NN (NASDAQ:NNBR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The business had revenue of $128.74 million for the quarter, compared to analyst estimates of $116.09 million. As a group, research analysts forecast that NN will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at NN

In related news, Director Raymond T. White sold 18,782 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $2.41, for a total transaction of $45,264.62. Following the transaction, the director directly owned 858,283 shares in the company, valued at approximately $2,068,462.03. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.60% of the company's stock.

Institutional Trading of NN

A number of hedge funds have recently bought and sold shares of NNBR. Two Sigma Investments LP acquired a new position in shares of NN during the 3rd quarter worth approximately $27,000. Hudson Bay Capital Management LP acquired a new stake in shares of NN in the second quarter valued at approximately $29,000. Virtu Financial LLC acquired a new stake in shares of NN in the fourth quarter valued at approximately $30,000. Quinn Opportunity Partners LLC purchased a new position in NN during the fourth quarter worth approximately $32,000. Finally, AIGH Capital Management LLC purchased a new position in NN during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 53.92% of the company's stock.

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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