NN (NASDAQ:NNBR) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

NN, Inc. (NASDAQ:NNBR) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.55 and traded as high as $1.6894. NN shares last traded at $1.47, with a volume of 277,095 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NNBR. B. Riley Financial reduced their price target on shares of NN from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $3.00.

NN Trading Up 4.8%

The company’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.54. The stock has a market cap of $76.29 million, a price-to-earnings ratio of -1.42, a PEG ratio of 0.29 and a beta of 2.21. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52.

Institutional Trading of NN

Several hedge funds have recently added to or reduced their stakes in NNBR. Two Sigma Investments LP acquired a new stake in NN in the third quarter valued at approximately $27,000. Hudson Bay Capital Management LP acquired a new stake in NN in the second quarter valued at approximately $29,000. Virtu Financial LLC acquired a new stake in NN in the fourth quarter valued at approximately $30,000. Quinn Opportunity Partners LLC acquired a new stake in NN in the fourth quarter valued at approximately $32,000. Finally, Quadrature Capital Ltd acquired a new stake in NN in the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds 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.