NN (NASDAQ:NNBR) Share Price Passes Above 200 Day Moving Average – Should You Sell?

NN, Inc. (NASDAQ:NNBR)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.59 and traded as high as $3.41. NN shares last traded at $3.33, with a volume of 1,052,276 shares.

Analyst Ratings Changes

NNBR has been the topic of a number of recent research reports. Wall Street Zen cut NN from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Craig Hallum started coverage on shares of NN in a research note on Monday, July 20th. They issued a “buy” rating and a $7.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research report on Friday, July 17th. B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.67.

NN Price Performance

The stock has a market cap of $285.73 million, a P/E ratio of -3.60 and a beta of 2.61. The business has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $2.60. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The business had revenue of $128.74 million during the quarter, compared to the consensus estimate of $116.09 million. On average, sell-side analysts forecast that NN, Inc. will post 0.13 EPS for the current year.

Hedge Funds Weigh In On NN

Institutional investors have recently made changes to their positions in the stock. First Manhattan CO. LLC. grew its position in NN by 8.2% in the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after acquiring an additional 228,800 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in shares of NN by 0.6% in the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock worth $6,117,000 after purchasing an additional 18,615 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in shares of NN by 21.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock valued at $5,792,000 after purchasing an additional 483,952 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in shares of 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 valued at $5,127,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Corre Partners Management LLC bought a new stake in NN in the 2nd quarter worth approximately $4,446,707. 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.