Raymond White Sells 18,782 Shares of NN (NASDAQ:NNBR) Stock

NN, Inc. (NASDAQ:NNBR) Director Raymond White sold 18,782 shares of the firm’s 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 owned 858,283 shares of the company’s stock, valued at $2,068,462.03. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NN Stock Down 4.7%

Shares of NASDAQ NNBR opened at $2.22 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 6.39. NN, Inc. has a 52 week low of $1.10 and a 52 week high of $2.99. The firm has a 50-day moving average price of $1.85 and a 200 day moving average price of $1.59. The stock has a market capitalization of $117.15 million, a price-to-earnings ratio of -2.04, a price-to-earnings-growth ratio of 0.43 and a beta of 2.54.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.07. NN had a negative net margin of 7.85% and a positive return on equity of 4.54%. The firm had revenue of $118.45 million during the quarter, compared to analysts’ expectations of $106.59 million. Equities research analysts anticipate that NN, Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On NN

Hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. purchased a new position in NN during the 4th quarter valued at about $230,000. Nantahala Capital Management LLC increased its holdings in NN by 69.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after acquiring an additional 1,000,000 shares in the last quarter. Ancora Advisors LLC increased its holdings in NN by 74.2% during the 3rd quarter. Ancora Advisors LLC now owns 290,770 shares of the industrial products company’s stock valued at $599,000 after acquiring an additional 123,810 shares in the last quarter. UBS Group AG increased its holdings in NN by 15,147.1% during the 3rd quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock valued at $576,000 after acquiring an additional 277,798 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in NN by 334.0% during the 2nd quarter. Marshall Wace LLP now owns 257,234 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 197,960 shares in the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NNBR shares. Zacks Research upgraded shares of NN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Finally, B. Riley Financial cut shares of NN from a “buy” rating to a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $3.00.

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.