NN, Inc. (NASDAQ:NNBR – Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 6,187,554 shares, an increase of 76.3% from the September 30th total of 3,509,517 shares. Currently, 7.0% of the company’s stock are short sold. Based on an average daily trading volume, of 3,443,951 shares, the short-interest ratio is currently 1.8 days.
NN Stock Up 0.7%
Shares of NNBR traded up $0.03 during midday trading on Tuesday, hitting $3.75. 324,417 shares of the company’s stock traded hands, compared to its average volume of 1,980,533. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 7.70. The stock has a market capitalization of $351.07 million, a price-to-earnings ratio of -4.34 and a beta of 2.65. NN has a 1 year low of $1.10 and a 1 year high of $4.79. The firm’s fifty day moving average is $3.63 and its 200-day moving average is $2.72.
NN (NASDAQ:NNBR – Get Free Report) last announced its earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. NN had a positive return on equity of 43.10% and a negative net margin of 5.43%. The company had revenue of $131.10 million for the quarter, compared to analyst estimates of $118.10 million. As a group, sell-side analysts anticipate that NN will post 0.15 earnings per share for the current year.
Analyst Ratings Changes
NNBR has been the topic of several recent research reports. Zacks Research raised NN from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 9th. Wall Street Zen lowered NN from a “buy” rating to a “hold” rating in a research report on Saturday. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of NN in a research report on Friday, August 7th. Craig Hallum initiated coverage on shares of NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.67.
Read Our Latest Research Report on NNBR
Hedge Funds Weigh In On NN
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new position in NN in the second quarter valued at approximately $813,000. BlackRock Inc. acquired a new stake in shares of NN during the 2nd quarter worth approximately $2,743,000. RBF Capital LLC increased its holdings in shares of NN by 71.8% during the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after purchasing an additional 348,945 shares in the last quarter. Corre Partners Management LLC purchased a new position in shares of NN during the 2nd quarter valued at approximately $4,446,707. Finally, Walleye Capital LLC purchased a new position in shares of NN during the 2nd quarter valued at approximately $1,962,000. Institutional investors and hedge funds own 53.92% of the company’s stock.
About NN
NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.
The company’s manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.
Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.
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