NN (NASDAQ:NNBR) Coverage Initiated at Noble Financial

Equities research analysts at Noble Financial initiated coverage on shares of NN (NASDAQ:NNBR) in a research report issued on Monday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $6.00 price target on the industrial products company’s stock. Noble Financial’s price target points to a potential upside of 57.48% from the stock’s current price.

Other research analysts have also issued research reports about the company. StockNews.com raised NN from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. TheStreet raised NN from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th.

NN Trading Down 0.8 %

NNBR opened at $3.81 on Monday. The business has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $3.55. The firm has a market capitalization of $188.75 million, a price-to-earnings ratio of -2.82 and a beta of 3.02. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.24 and a quick ratio of 1.36. NN has a one year low of $0.97 and a one year high of $5.40.

NN (NASDAQ:NNBR) last released its quarterly earnings results on Monday, March 11th. The industrial products company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). NN had a negative net margin of 10.25% and a negative return on equity of 9.19%. The business had revenue of $112.53 million for the quarter, compared to the consensus estimate of $116.00 million. Analysts predict that NN will post -0.21 EPS for the current year.

Institutional Trading of NN

Several hedge funds and other institutional investors have recently made changes to their positions in NNBR. Renaissance Technologies LLC grew its stake in shares of NN by 128.1% in the 1st quarter. Renaissance Technologies LLC now owns 426,500 shares of the industrial products company’s stock worth $1,228,000 after buying an additional 239,510 shares during the last quarter. Invesco Ltd. grew its stake in shares of NN by 86.9% in the 1st quarter. Invesco Ltd. now owns 108,756 shares of the industrial products company’s stock worth $313,000 after buying an additional 50,580 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of NN in the 1st quarter worth approximately $205,000. Royal Bank of Canada boosted its stake in NN by 8.8% during the 1st quarter. Royal Bank of Canada now owns 753,336 shares of the industrial products company’s stock valued at $2,170,000 after purchasing an additional 61,176 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its stake in NN by 1,135.5% during the 1st quarter. Nomura Holdings Inc. now owns 2,138,000 shares of the industrial products company’s stock valued at $6,099,000 after purchasing an additional 1,964,948 shares during the last quarter. Hedge funds and other institutional investors own 53.92% of the company’s stock.

NN Company Profile

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.