NN (NASDAQ:NNBR) Announces Earnings Results

NN (NASDAQ:NNBR) posted its earnings results on Wednesday. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07, FiscalAI reports. NN had a positive return on equity of 4.03% and a negative net margin of 7.85%.The firm had revenue of $118.45 million for the quarter, compared to analysts’ expectations of $106.59 million.

NN Stock Performance

NNBR stock traded up $0.06 during trading on Friday, reaching $2.82. The stock had a trading volume of 645,986 shares, compared to its average volume of 704,065. 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 stock’s 50 day moving average is $1.74 and its two-hundred day moving average is $1.57. The firm has a market cap of $141.28 million, a PE ratio of -2.59, a PEG ratio of 0.49 and a beta of 2.54. NN has a 52 week low of $1.10 and a 52 week high of $2.99.

Insider Transactions at NN

In other NN news, major shareholder John Frederick Barrett sold 136,165 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the sale, the insider owned 4,568,715 shares in the company, valued at $12,015,720.45. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Corre Partners Management, Llc sold 136,165 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $2.63, for a total value of $358,113.95. Following the completion of the sale, the insider owned 372,744 shares of the company’s stock, valued at approximately $980,316.72. The trade was a 26.76% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,273,832 shares of company stock valued at $7,859,198. Company insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On NN

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of NN during the 2nd quarter worth approximately $156,000. Marshall Wace LLP increased its holdings in NN by 334.0% during the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 197,960 shares during the period. Qube Research & Technologies Ltd purchased a new position in NN during the 2nd quarter worth $147,000. Jane Street Group LLC purchased a new position in NN during the 2nd quarter worth $233,000. Finally, Nantahala Capital Management LLC increased its holdings in NN by 69.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after purchasing an additional 1,000,000 shares during the period. 53.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Tuesday, April 21st. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, B. Riley Financial dropped their price target on NN from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NN currently has a consensus rating of “Hold” and an average target price of $3.00.

NN Company Profile

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.