NN (NASDAQ:NNBR) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of NN (NASDAQ:NNBR) from a buy rating to a hold rating in a research report released on Sunday.

Several other research firms also recently issued reports on NNBR. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a 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. Craig Hallum began coverage on shares of NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 target price on the stock. Lake Street Capital reissued a “buy” rating and issued a $7.00 price target on shares of NN in a research report on Friday, August 7th. Finally, Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.67.

NN Price Performance

Shares of NNBR opened at $3.84 on Friday. The firm has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $2.45. The stock has a market cap of $317.11 million, a PE ratio of -4.00 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 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 quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.11 EPS for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The firm had revenue of $128.74 million for the quarter, compared to analyst estimates of $116.09 million. As a group, analysts forecast that NN will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in NN during the 2nd quarter worth approximately $375,000. Bank of America Corp DE acquired a new stake in shares of NN in the 2nd quarter valued at $813,000. Corre Partners Management LLC acquired a new stake in shares of NN in the 2nd quarter valued at $4,446,707,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of NN during the 2nd quarter worth $718,000. Finally, Algert Global LLC purchased a new stake in shares of NN during the 2nd quarter worth $351,000. Hedge funds and other institutional investors 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.