NN (NASDAQ:NNBR) Upgraded by B. Riley to "Strong-Buy" Rating

Key Points

• NN (NASDAQ:NNBR) has been upgraded by B. Riley to a "strong-buy" rating, indicating positive investor sentiment.
• Insider purchases increased, with COO Timothy M. French acquiring 44,784 shares and CEO Harold C. Bevis buying 45,316 shares recently, signaling management's confidence in the company's future.
• The company's stock has a market capitalization of $98.38 million and reported a quarterly revenue of $105.69 million, slightly below analyst estimates.

NN (NASDAQ:NNBR - Get Free Report) was upgraded by research analysts at B. Riley to a "strong-buy" rating in a research report issued on Wednesday, July 30th, Marketbeat.com reports.

Separately, Wall Street Zen raised NN from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

NN Stock Performance

NNBR remained flat at $2.14 on Wednesday. 114,332 shares of the company traded hands, compared to its average volume of 415,134. The stock has a market cap of $107.96 million, a price-to-earnings ratio of -2.16 and a beta of 2.03. NN has a 12-month low of $1.58 and a 12-month high of $4.67. The stock's 50-day simple moving average is $2.09 and its two-hundred day simple moving average is $2.33. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.22 and a current ratio of 1.92.

NN (NASDAQ:NNBR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. NN had a negative net margin of 7.22% and a negative return on equity of 6.24%. On average, analysts predict that NN will post -0.2 earnings per share for the current year.

Insider Activity at NN

In other NN news, COO Timothy M. French acquired 44,784 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was purchased at an average price of $2.08 per share, for a total transaction of $93,150.72. Following the completion of the transaction, the chief operating officer owned 374,784 shares of the company's stock, valued at $779,550.72. The trade was a 13.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Harold C. Bevis purchased 45,316 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $2.20 per share, with a total value of $99,695.20. Following the transaction, the chief executive officer owned 1,463,150 shares of the company's stock, valued at approximately $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 bought 110,288 shares of company stock valued at $233,662 over the last three months. Corporate insiders own 7.94% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of NN in the second quarter valued at $105,000. Y Intercept Hong Kong Ltd purchased a new position in shares of NN in the second quarter valued at $343,000. Paradigm Capital Management Inc. NY increased its position in shares of NN by 22.5% in the first quarter. Paradigm Capital Management Inc. NY now owns 2,274,300 shares of the industrial products company's stock valued at $5,140,000 after buying an additional 418,100 shares in the last quarter. Nuveen LLC purchased a new position in shares of NN in the first quarter valued at $140,000. Finally, De Lisle Partners LLP increased its position in NN by 21.5% during the 1st quarter. De Lisle Partners LLP now owns 410,228 shares of the industrial products company's stock worth $929,000 after purchasing an additional 72,633 shares in the last quarter. Hedge funds and other institutional investors own 53.92% of the company's stock.

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.