NN (NASDAQ:NNBR) Releases Earnings Results

NN (NASDAQ:NNBR) announced its earnings results on Wednesday. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $128.74 million during the quarter, compared to analysts’ expectations of $116.09 million. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.

NN Stock Up 1.3%

Shares of NN stock traded up $0.05 during trading hours on Wednesday, hitting $3.90. 2,512,154 shares of the company’s stock traded hands, compared to its average volume of 1,556,325. NN has a twelve month low of $1.10 and a twelve month high of $4.44. The company has a market cap of $205.69 million, a PE ratio of -3.58 and a beta of 2.57. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 6.39. The stock has a 50 day simple moving average of $3.22 and a 200-day simple moving average of $2.31.

Insiders Place Their Bets

In other NN news, Director Raymond T. White sold 18,782 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total value of $45,264.62. Following the transaction, the director directly owned 858,283 shares of the company’s stock, valued at $2,068,462.03. This represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 19.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NN

Several hedge funds and other institutional investors have recently modified their holdings of NNBR. Two Sigma Investments LP acquired a new position in NN in the third quarter worth about $27,000. Hudson Bay Capital Management LP bought a new position in NN during the 2nd quarter worth approximately $29,000. Virtu Financial LLC acquired a new position in shares of NN in the 4th quarter worth approximately $30,000. Quinn Opportunity Partners LLC bought a new stake in shares of NN in the 4th quarter valued at approximately $32,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of NN during the 4th quarter valued at approximately $77,000. Institutional investors own 53.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NNBR shares. Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Craig Hallum began coverage on shares of NN in a research report on Monday, July 20th. They set a “buy” rating and a $7.00 target price for the company. Finally, B. Riley Financial downgraded NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NN has an average rating of “Hold” and an average target price of $5.00.

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.