NN (NASDAQ:NNBR) Stock Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• NN shares rose above their 200-day moving average, reaching $4.14 before settling at $3.94, compared with a 200-day average of $3.03.
• Analyst sentiment is mixed: two analysts rate NN a Buy, two rate it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $5.67.
• NN reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding the $116.09 million consensus revenue estimate, but it continues to show a negative net margin and high leverage with a debt-to-equity ratio of 7.70.

Shares of 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 $3.03 and traded as high as $4.14. NN shares last traded at $3.94, with a volume of 2,571,198 shares traded.

Wall Street Analyst Weigh In

NNBR has been the topic of a number of recent research reports. Craig Hallum started coverage on NN in a research report on Monday, July 20th. They issued a "buy" rating and a $7.00 target price on the stock. Lake Street Capital reaffirmed a "buy" rating and set a $7.00 price target on shares of NN in a research report on Friday, August 7th. Wall Street Zen raised NN from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NN in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $5.67.

NN Stock Down 0.3%

The firm's 50-day simple moving average is $3.69 and its 200 day simple moving average is $3.03. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79. The stock has a market capitalization of $325.37 million, a P/E ratio of -4.10 and a beta of 2.65.

NN (NASDAQ:NNBR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 EPS for the quarter. The company had revenue of $128.74 million during the quarter, compared to the consensus estimate of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. As a group, research analysts expect that NN, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Addison Advisors LLC acquired a new position in shares of NN during the 2nd quarter worth approximately $39,000. AIGH Capital Management LLC bought a new stake in shares of NN during the 2nd quarter worth approximately $41,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of NN during the 2nd quarter worth approximately $44,000. Nierenberg Investment Management Company LLC acquired a new stake in shares of NN in the 2nd quarter valued at approximately $48,662. Finally, State Street Corp boosted its holdings in shares of NN by 6.6% in the 2nd quarter. State Street Corp now owns 224,344 shares of the industrial products company's stock valued at $805,000 after buying an additional 13,835 shares during the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.

About NN

NN, Inc NASDAQ: NNBR is a diversified industrial company that designs and manufactures highly engineered components and assemblies for customers in the automotive, industrial, aerospace and defense, and life sciences markets. Its products include precision metal components, plastic and rubber products, and complex assemblies used in systems and equipment.

The company serves original equipment manufacturers and other industrial customers through manufacturing operations and customer relationships in North America, Europe, and Asia.

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