Corre Partners Management LLC bought a new stake in NN, Inc. (NASDAQ:NNBR – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,238,637 shares of the industrial products company’s stock, valued at approximately $4,446,707,000. NN accounts for approximately 1.2% of Corre Partners Management LLC’s investment portfolio, making the stock its 4th largest holding. Corre Partners Management LLC owned approximately 2.35% of NN at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Two Sigma Investments LP acquired a new stake in shares of NN during the third quarter worth $27,000. Hudson Bay Capital Management LP acquired a new position in NN in the 2nd quarter valued at $29,000. Virtu Financial LLC purchased a new position in NN during the 4th quarter worth $30,000. Quinn Opportunity Partners LLC purchased a new position in NN during the 4th quarter worth $32,000. Finally, Addison Advisors LLC purchased a new position in NN during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.
NN Price Performance
NN stock opened at $3.65 on Tuesday. The company has a market cap of $301.42 million, a P/E ratio of -3.80 and a beta of 2.57. NN, Inc. has a one year low of $1.10 and a one year high of $4.48. The business has a fifty day moving average of $3.43 and a two-hundred day moving average of $2.51. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79.
Wall Street Analysts Forecast Growth
NNBR has been the topic of several analyst reports. Craig Hallum began coverage on shares of NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price on the stock. Wall Street Zen cut shares of NN from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. B. Riley Financial downgraded shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Finally, Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.67.
View Our Latest Research Report on NN
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.
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