NN (NASDAQ:NNBR) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of NN (NASDAQ:NNBR) from a hold rating to a buy rating in a report published on Saturday.

Several other equities analysts also recently issued reports on NNBR. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. B. Riley Financial downgraded NN from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Craig Hallum began coverage on NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Lake Street Capital restated a “buy” rating and set a $7.00 price target on shares of NN in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NN presently has a consensus rating of “Hold” and an average price target of $5.67.

NN Stock Down 2.6%

Shares of NASDAQ:NNBR opened at $3.77 on Friday. The company has a market capitalization of $198.83 million, a PE ratio of -3.93 and a beta of 2.57. The company has a current ratio of 1.79, a quick ratio of 1.16 and a debt-to-equity ratio of 7.70. NN has a twelve month low of $1.10 and a twelve month high of $4.48. The firm has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $2.33.

NN (NASDAQ:NNBR) last posted its earnings results 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 the consensus estimate of $116.09 million. On average, equities analysts predict that NN will post 0.16 EPS for the current fiscal year.

Insider Activity at NN

In related news, Director Raymond T. White sold 18,782 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total transaction of $45,264.62. Following the completion of the sale, the director directly owned 858,283 shares of the company’s stock, valued at $2,068,462.03. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On NN

A number of large investors have recently bought and sold shares of NNBR. Nantahala Capital Management LLC raised its holdings in NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock worth $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. BlackRock Inc. acquired a new position in NN during the 2nd quarter worth approximately $2,743,000. Walleye Capital LLC acquired a new position in NN during the 2nd quarter worth approximately $1,962,000. Paradigm Capital Management Inc. NY raised its stake 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 worth $5,792,000 after buying an additional 483,952 shares in the last quarter. Finally, RBF Capital LLC lifted its holdings in shares of NN by 71.8% in the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after buying an additional 348,945 shares during the period. Hedge funds and other 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.