NN, Inc. (NASDAQ:NNBR) Stock Short Interest Report for October

Key Points

• NN’s short interest surged 76.3% to 6.19 million shares as of October 15, representing approximately 7.0% of shares outstanding and 1.8 days of average trading volume.
• NN shares traded at $3.93, near the upper end of their 52-week range of $1.10 to $4.79. The company beat quarterly earnings expectations, reporting $0.07 per share versus the $0.02 consensus estimate, while revenue reached $131.1 million.
• Analyst sentiment was mixed but leaned positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $5.67; institutional and hedge-fund investors owned 53.92% of the stock.

NN, Inc. (NASDAQ:NNBR - Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 6,187,554 shares, an increase of 76.3% from the September 30th total of 3,509,517 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average daily trading volume, of 3,443,951 shares, the short-interest ratio is presently 1.8 days.

NN Price Performance

Shares of NN stock traded down $0.03 during trading on Friday, hitting $3.93. 1,836,312 shares of the company were exchanged, compared to its average volume of 3,114,905. The firm has a 50 day moving average price of $3.63 and a 200 day moving average price of $2.71. NN has a fifty-two week low of $1.10 and a fifty-two week high of $4.79. The stock has a market capitalization of $368.40 million, a price-to-earnings ratio of -4.57 and a beta of 2.65. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.60.

NN (NASDAQ:NNBR - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. NN had a negative net margin of 5.43% and a positive return on equity of 25.25%. The company had revenue of $131.10 million for the quarter, compared to analysts' expectations of $118.10 million. On average, equities analysts expect that NN will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NNBR shares. Lake Street Capital reissued a "buy" rating and issued a $7.00 target price on shares of NN in a report on Friday, August 7th. Craig Hallum started coverage on shares of NN in a research report on Monday, July 20th. They issued a "buy" rating and a $7.00 price objective on the stock. Zacks Research raised shares of NN from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 9th. Wall Street Zen downgraded shares of NN from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $5.67.

Institutional Trading of NN

Institutional investors have recently added to or reduced their stakes in the business. State of Wyoming purchased a new stake in shares of NN during the 3rd quarter valued at about $36,000. Kings Path Partners LLC acquired a new position in NN during the 3rd quarter worth approximately $157,000. State Street Corp boosted its holdings in NN by 6.6% in the 2nd quarter. State Street Corp now owns 224,344 shares of the industrial products company's stock worth $805,000 after acquiring an additional 13,835 shares during the period. Ameritas Advisory Services LLC purchased a new position in NN in the 2nd quarter worth approximately $54,000. Finally, AXQ Capital LP purchased a new position in NN in the 2nd quarter worth approximately $62,000. 53.92% of the stock is owned by hedge funds and other institutional investors.

NN Company Profile

NN, Inc NASDAQ: NNBR is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.

The company's manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.

Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.