NN (NASDAQ:NNBR) Major Shareholder Sells $81,661.20 in Stock

NN, Inc. (NASDAQ:NNBR) major shareholder John Frederick Barrett sold 40,030 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $2.04, for a total value of $81,661.20. Following the completion of the sale, the insider directly owned 5,850,165 shares of the company’s stock, valued at approximately $11,934,336.60. This represents a 0.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

John Frederick Barrett also recently made the following trade(s):

• On Monday, April 27th, John Frederick Barrett sold 136,165 shares of NN stock. The shares were sold at an average price of $2.63, for a total value of $358,113.95.
• On Friday, April 24th, John Frederick Barrett sold 12,199 shares of NN stock. The shares were sold at an average price of $2.51, for a total value of $30,619.49.
• On Thursday, April 23rd, John Frederick Barrett sold 555,305 shares of NN stock. The shares were sold at an average price of $2.69, for a total value of $1,493,770.45.
• On Wednesday, April 22nd, John Frederick Barrett sold 94,380 shares of NN stock. The shares were sold at an average price of $2.30, for a total value of $217,074.00.
• On Tuesday, April 21st, John Frederick Barrett sold 55,483 shares of NN stock. The shares were sold at an average price of $2.21, for a total value of $122,617.43.
• On Monday, April 20th, John Frederick Barrett sold 79,757 shares of NN stock. The shares were sold at an average price of $2.24, for a total value of $178,655.68.
• On Friday, April 17th, John Frederick Barrett sold 348,161 shares of NN stock. The shares were sold at an average price of $2.29, for a total value of $797,288.69.
• On Wednesday, April 15th, John Frederick Barrett sold 315,436 shares of NN stock. The shares were sold at an average price of $2.06, for a total value of $649,798.16.

NN Trading Down 9.4%

Shares of NASDAQ:NNBR traded down $0.24 during trading on Wednesday, reaching $2.30. 984,519 shares of the company traded hands, compared to its average volume of 668,485. The firm has a market capitalization of $115.44 million, a price-to-earnings ratio of -2.15, a P/E/G ratio of 0.51 and a beta of 2.21. NN, Inc. has a 52-week low of $1.10 and a 52-week high of $2.88. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 4.52. The business’s fifty day moving average is $1.67 and its 200-day moving average is $1.55.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. B. Riley Financial dropped their price objective on NN from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Finally, Zacks Research downgraded NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Hedge Funds Weigh In On NN

A number of hedge funds and other institutional investors have recently made changes to their positions in NNBR. XTX Topco Ltd bought a new position in shares of NN during the second quarter valued at approximately $156,000. Marshall Wace LLP raised its holdings in shares of NN by 334.0% during the second quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 197,960 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of NN during the second quarter valued at approximately $147,000. Jane Street Group LLC bought a new position in shares of NN during the second quarter valued at approximately $233,000. Finally, Nantahala Capital Management LLC raised its holdings in shares of NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after acquiring an additional 1,000,000 shares in the last quarter. Institutional investors own 53.92% of the company’s stock.

About NN

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.