NN (NASDAQ:NNBR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NN (NASDAQ:NNBR) from a hold rating to a buy rating in a report issued on Saturday.

NNBR has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Lake Street Capital reissued a “buy” rating and issued a $7.00 price objective on shares of NN in a report on Friday. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Craig Hallum initiated coverage on NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 target price on the stock. Finally, B. Riley Financial cut NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.67.

NN Stock Down 3.7%

NASDAQ:NNBR opened at $3.63 on Friday. The firm has a market capitalization of $191.45 million, a P/E ratio of -3.78 and a beta of 2.57. NN has a 1-year low of $1.10 and a 1-year high of $4.48. The company’s fifty day moving average price is $3.27 and its 200-day moving average price is $2.35. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $128.74 million during the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that NN will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. grew its holdings in NN by 11.9% in the fourth quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 9,600 shares during the period. Corient Private Wealth LLC raised its stake in shares of NN by 16.1% during the 2nd quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock worth $151,000 after buying an additional 10,000 shares during the period. Addison Advisors LLC acquired a new position in shares of NN during the 2nd quarter worth approximately $39,000. AIGH Capital Management LLC acquired a new position in shares of NN during the 2nd quarter worth approximately $41,000. Finally, AssuredPartners Investment Advisors LLC purchased a new position in shares of NN during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

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.