NN (NASDAQ:NNBR) Share Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• NN shares fell 17.3% and crossed below their 200-day moving average of $2.75, trading as low as $2.65 and last at $2.67.
• Analyst views are mixed, but the consensus remains Moderate Buy, with an average price target of $5.67.
• Latest quarterly results beat expectations: NN reported EPS of $0.07 versus $0.02 expected and revenue of $131.1 million versus $118.1 million expected.

NN, Inc. (NASDAQ:NNBR - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $2.75 and traded as low as $2.65. NN shares last traded at $2.67, with a volume of 6,372,963 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NNBR shares. Wall Street Zen cut NN from a "buy" rating to a "hold" rating in a research note on Saturday, October 31st. Craig Hallum started coverage on shares of NN in a report on Monday, July 20th. They issued a "buy" rating and a $7.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of NN in a research report on Thursday, October 15th. Zacks Research upgraded shares of NN from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 9th. Finally, Lake Street Capital reiterated a "buy" rating and set a $7.00 price target on shares of NN in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5.67.

NN Stock Down 17.3%

The company has a market capitalization of $250.30 million, a PE ratio of -3.10 and a beta of 2.74. The company has a current ratio of 1.75, a quick ratio of 1.07 and a debt-to-equity ratio of 1.60. The firm has a 50 day simple moving average of $3.61 and a two-hundred day simple moving average of $2.75.

NN (NASDAQ:NNBR - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. NN had a positive return on equity of 25.25% and a negative net margin of 5.43%. The business had revenue of $131.10 million during the quarter, compared to analysts' expectations of $118.10 million. Research analysts expect that NN, Inc. will post 0.20 EPS for the current year.

Hedge Funds Weigh In On NN

A number of large investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in shares of NN during the 3rd quarter worth $36,000. Addison Advisors LLC acquired a new position in shares of NN during the 2nd quarter worth $39,000. AIGH Capital Management LLC acquired a new position in shares of NN during the 2nd quarter worth $41,000. AssuredPartners Investment Advisors LLC purchased a new position in NN in the second quarter valued at about $44,000. Finally, Nierenberg Investment Management Company LLC acquired a new position in NN during the second quarter worth $48,662. 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.

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