NN (NASDAQ:NNBR) Share Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• NN shares rose above their 50-day moving average, reaching $3.84 and closing near $3.80 on volume of roughly 3.1 million shares. The stock’s 50-day and 200-day moving averages are $3.63 and $2.68, respectively.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $5.67, although ratings range from Strong Buy to Sell. Several firms have assigned $7.00 targets.
• NN exceeded quarterly expectations, reporting $0.07 in earnings per share versus a $0.02 consensus estimate and revenue of $131.1 million versus $118.1 million expected. Institutional investors own approximately 53.92% of the company, while its debt-to-equity ratio remains elevated at 7.70.

NN, Inc. (NASDAQ:NNBR - Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.63 and traded as high as $3.84. NN shares last traded at $3.80, with a volume of 3,123,130 shares traded.

Analysts Set New Price Targets

NNBR has been the topic of a number of recent research reports. Lake Street Capital reaffirmed a "buy" rating and set a $7.00 price objective on shares of NN in a research report on Friday, August 7th. Craig Hallum began coverage on shares of NN in a research report on Monday, July 20th. They set a "buy" rating and a $7.00 price target for the company. Wall Street Zen raised shares of NN from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Zacks Research upgraded shares of NN from a "hold" rating to a "strong-buy" rating in a report on Friday, October 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.67.

NN Stock Performance

The business has a 50-day moving average price of $3.63 and a 200-day moving average price of $2.68. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. The firm has a market capitalization of $356.23 million, a price-to-earnings ratio of -3.96 and a beta of 2.65.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%. The firm had revenue of $131.10 million during the quarter, compared to analysts' expectations of $118.10 million. As a group, sell-side analysts forecast that NN, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On NN

A number of large investors have recently modified their holdings of the business. Corre Partners Management LLC acquired a new stake in NN in the 2nd quarter worth approximately $4,446,707. BlackRock Inc. acquired a new position in NN during the 2nd quarter valued at approximately $2,743,000. Ranger Investment Management L.P. acquired a new position in NN during the 2nd quarter valued at approximately $2,040,000. Walleye Capital LLC acquired a new position in NN during the 2nd quarter valued at approximately $1,962,000. Finally, De Lisle Partners LLP purchased a new position in shares of NN in the second quarter worth $1,895,000. Hedge funds and other institutional investors own 53.92% of the company's stock.

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.

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