NN (NASDAQ:NNBR) Posts Earnings Results, Misses Expectations By $0.31 EPS

NN (NASDAQ:NNBR) issued its quarterly earnings results on Wednesday. The industrial products company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.31), reports. The company had revenue of $104.72 million during the quarter, compared to analysts’ expectations of $105.36 million. NN had a negative return on equity of 2.09% and a negative net margin of 10.01%.

NN Stock Performance

Shares of NNBR traded down $0.07 during trading hours on Thursday, hitting $1.47. The company’s stock had a trading volume of 309,165 shares, compared to its average volume of 308,160. The business has a 50 day simple moving average of $1.50 and a two-hundred day simple moving average of $1.71. NN has a 52-week low of $1.10 and a 52-week high of $2.94. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.87 and a quick ratio of 1.17. The company has a market cap of $73.54 million, a price-to-earnings ratio of -1.19, a PEG ratio of 0.24 and a beta of 2.29.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP bought a new stake in NN during the 3rd quarter valued at $27,000. Hudson Bay Capital Management LP purchased a new position in shares of NN in the second quarter valued at $29,000. Virtu Financial LLC purchased a new position in shares of NN in the fourth quarter valued at $30,000. Quinn Opportunity Partners LLC bought a new stake in shares of NN during the 4th quarter valued at $32,000. Finally, Quadrature Capital Ltd purchased a new stake in NN during the 4th quarter worth about $77,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

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.