Penn Capital Management Company LLC acquired a new position in shares of NN, Inc. (NASDAQ:NNBR – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 320,062 shares of the industrial products company’s stock, valued at approximately $1,175,000.
A number of other hedge funds also recently made changes to their positions in the stock. CenterBook Partners LP acquired a new position in shares of NN in the third quarter worth approximately $215,000. AIGH Capital Management LLC increased its position in NN by 65,414.4% during the 3rd quarter. AIGH Capital Management LLC now owns 7,531,532 shares of the industrial products company’s stock valued at $27,641,000 after purchasing an additional 7,520,036 shares during the period. State of Wyoming acquired a new stake in NN during the 3rd quarter valued at approximately $36,000. Kings Path Partners LLC acquired a new stake in NN during the 3rd quarter valued at approximately $157,000. Finally, State Street Corp raised its holdings in NN by 6.6% during the 2nd quarter. State Street Corp now owns 224,344 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 13,835 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
NNBR has been the topic of a number of recent analyst reports. Wall Street Zen downgraded NN from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a report on Thursday, October 15th. Craig Hallum started coverage on shares of NN in a research report on Monday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock. Zacks Research upgraded NN from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Finally, Lake Street Capital reissued a “buy” rating and set a $7.00 price objective on shares of NN in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.67.
Get Our Latest Research Report on NN
NN Stock Down 1.6%
NNBR opened at $3.04 on Wednesday. The company’s 50-day moving average price is $3.58 and its two-hundred day moving average price is $2.77. NN, Inc. has a twelve month low of $1.10 and a twelve month high of $4.79. The stock has a market cap of $284.97 million, a price-to-earnings ratio of 15.45 and a beta of 2.74. The company has a quick ratio of 1.07, a current ratio of 1.75 and a debt-to-equity ratio of 1.60.
NN (NASDAQ:NNBR – Get Free Report) last released its earnings results on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. NN had a positive return on equity of 25.25% and a negative net margin of 5.43%. The business had revenue of $131.10 million during the quarter, compared to the consensus estimate of $118.10 million. As a group, equities analysts expect that NN, Inc. will post 0.20 earnings per share for the current year.
NN Profile
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.
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