NN (NASDAQ:NNBR) Stock Rating Lowered by StockNews.com

NN (NASDAQ:NNBR – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Separately, Lake Street Capital lowered shares of NN from a “buy” rating to a “hold” rating in a research report on Friday, May 5th.

NN Stock Performance

Shares of NASDAQ NNBR opened at $1.69 on Friday. The firm has a 50 day moving average of $1.15 and a 200 day moving average of $1.61. The company has a current ratio of 2.20, a quick ratio of 1.30 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $77.16 million, a price-to-earnings ratio of -1.72 and a beta of 2.75. NN has a 12-month low of $0.97 and a 12-month high of $3.61.

NN (NASDAQ:NNBR – Get Rating) last announced its earnings results on Thursday, March 9th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter. The business had revenue of $118.01 million for the quarter, compared to the consensus estimate of $123.15 million. NN had a negative net margin of 6.62% and a negative return on equity of 7.13%. On average, research analysts anticipate that NN will post -0.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Corre Partners Management, Llc purchased 25,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $31,250.00. Following the completion of the transaction, the insider now directly owns 5,714,427 shares in the company, valued at approximately $7,143,033.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 826,117 shares of company stock worth $873,321 over the last three months. 3.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NN

A number of hedge funds have recently modified their holdings of NNBR. Bank of America Corp DE raised its stake in NN by 4.9% during the first quarter. Bank of America Corp DE now owns 152,372 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 7,122 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in NN by 1.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 875,442 shares of the industrial products company’s stock valued at $1,313,000 after purchasing an additional 10,900 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in NN by 27.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 67,320 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 14,400 shares in the last quarter. Prudential Financial Inc. purchased a new stake in NN during the second quarter valued at $39,000. Finally, Acadian Asset Management LLC raised its stake in NN by 15.0% during the first quarter. Acadian Asset Management LLC now owns 138,067 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 18,004 shares in the last quarter. 73.81% of the stock is currently owned by institutional investors.

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.