NN (NASDAQ:NNBR) Shares Cross Above 200-Day Moving Average of $3.63

NN, Inc. (NASDAQ:NNBR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.63 and traded as high as $4.10. NN shares last traded at $3.83, with a volume of 281,897 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NNBR shares. Noble Financial started coverage on NN in a report on Monday, April 15th. They issued an “outperform” rating and a $6.00 target price on the stock. TheStreet upgraded NN from a “d” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, StockNews.com upgraded NN from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th.

NN Stock Performance

The stock has a 50 day simple moving average of $4.57 and a 200 day simple moving average of $3.63. The company has a market cap of $189.74 million, a price-to-earnings ratio of -2.84 and a beta of 3.02. The company has a quick ratio of 1.36, a current ratio of 2.24 and a debt-to-equity ratio of 1.19.

NN (NASDAQ:NNBR) last announced its earnings results on Monday, March 11th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). NN had a negative return on equity of 9.19% and a negative net margin of 10.25%. The business had revenue of $112.53 million for the quarter, compared to analysts’ expectations of $116.00 million. As a group, analysts predict that NN, Inc. will post -0.2 EPS for the current year.

Institutional Trading of NN

Hedge funds and other institutional investors have recently modified their holdings of the business. Cannon Global Investment Management LLC purchased a new stake in shares of NN during the first quarter worth about $85,000. Victory Capital Management Inc. purchased a new stake in shares of NN during the fourth quarter worth about $140,000. J.W. Cole Advisors Inc. increased its position in shares of NN by 80.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 90,100 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 40,290 shares during the last quarter. Register Financial Advisors LLC increased its holdings in NN by 26.6% in the fourth quarter. Register Financial Advisors LLC now owns 862,976 shares of the industrial products company’s stock valued at $3,452,000 after buying an additional 181,258 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in NN in the third quarter valued at about $1,674,000. 53.92% of the stock is owned by hedge funds and other institutional investors.

NN Company Profile

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.