NN (NASDAQ:NNBR) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• NN shares rose above their 200-day moving average, reaching $3.55 before last trading at $3.47, compared with a 200-day average of $2.71.
• Analyst sentiment remains mixed: NN has an average rating of “Hold” and an average price target of $5.67, with targets of $7.00 from Lake Street Capital and Craig Hallum.
• NN reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ revenue expectations; institutional investors own approximately 53.92% of the company.

NN, Inc. (NASDAQ:NNBR - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.71 and traded as high as $3.55. NN shares last traded at $3.47, with a volume of 738,041 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on NNBR shares. Wall Street Zen lowered shares of NN from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a research note on Friday, July 17th. Lake Street Capital reiterated a "buy" rating and set a $7.00 target price on shares of NN in a research report on Friday, August 7th. Finally, Craig Hallum initiated coverage on shares of NN in a research note on Monday, July 20th. They set a "buy" rating and a $7.00 price target on the stock. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, NN has an average rating of "Hold" and an average target price of $5.67.

NN Trading Down 3.1%

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 company has a market cap of $286.55 million, a P/E ratio of -3.61 and a beta of 2.61. The business has a 50-day moving average price of $3.55 and a two-hundred day moving average price of $2.71.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $128.74 million for the quarter, compared to analysts' expectations of $116.09 million. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%. On average, analysts predict that NN, Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ameritas Advisory Services LLC acquired a new stake in shares of NN during the 2nd quarter worth approximately $54,000. AXQ Capital LP acquired a new position in NN in the second quarter valued at approximately $62,000. Susquehanna Fundamental Investments LLC acquired a new position in NN in the second quarter valued at approximately $311,000. Two Sigma Securities LLC bought a new position in NN in the second quarter valued at approximately $85,000. Finally, Empowered Funds LLC bought a new position in NN in the second quarter valued at approximately $375,000. Institutional investors own 53.92% of the company's stock.

About NN

NN, Inc is an industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, aerospace and defense, medical, electrical, and general industrial markets. Its products have included precision-machined and molded components, bearings, seals, and other solutions designed for applications that require tight tolerances and reliable performance.

The company historically operated through manufacturing facilities in the United States and other international locations, serving original equipment manufacturers and industrial customers across North America, Europe, and Asia.

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