Q2 2023 EPS Estimates for NN, Inc. Lowered by Analyst (NASDAQ:NNBR)

NN, Inc. (NASDAQ:NNBR – Get Rating) – Investment analysts at KeyCorp dropped their Q2 2023 earnings per share estimates for shares of NN in a report issued on Sunday, March 12th. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $0.05 for the quarter, down from their previous estimate of $0.08. The consensus estimate for NN’s current full-year earnings is $0.29 per share. KeyCorp also issued estimates for NN’s Q3 2023 earnings at $0.07 EPS and Q4 2023 earnings at $0.05 EPS.

NN Stock Up 4.4 %

Shares of NASDAQ NNBR opened at $1.42 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $62.29 million, a PE ratio of -1.73 and a beta of 2.80. The stock’s fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $1.95. NN has a 12-month low of $1.25 and a 12-month high of $3.61.

Institutional Trading of NN

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Manhattan Co. boosted its position in NN by 26.1% during the 3rd quarter. First Manhattan Co. now owns 1,450,000 shares of the industrial products company’s stock valued at $2,479,000 after acquiring an additional 300,000 shares in the last quarter. Legion Partners Asset Management LLC boosted its position in NN by 1.6% during the 3rd quarter. Legion Partners Asset Management LLC now owns 4,139,151 shares of the industrial products company’s stock valued at $7,078,000 after acquiring an additional 65,000 shares in the last quarter. Royce & Associates LP boosted its position in shares of NN by 5.3% in the 3rd quarter. Royce & Associates LP now owns 2,284,487 shares of the industrial products company’s stock worth $3,906,000 after purchasing an additional 115,000 shares in the last quarter. Corre Partners Management LLC boosted its position in shares of NN by 1.2% in the 3rd quarter. Corre Partners Management LLC now owns 5,488,041 shares of the industrial products company’s stock worth $9,385,000 after purchasing an additional 62,789 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of NN in the 2nd quarter worth $47,000. Institutional investors own 73.81% of the company’s stock.

NN Company Profile

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NN, Inc engages in the design and manufacture high-precision components and assemblies primarily for the electrical, automotive, general industrial, aerospace and defense, and medical markets. It operates through the Mobile Solutions and Power Solutions segments. The Mobile Solutions segment manufactures system critical components for fuel systems, engines and transmissions, power steering systems, and electromechanical motors.