NN (NASDAQ:NNBR) Stock Price Crosses Above Two Hundred Day Moving Average of $3.96

NN, Inc. (NASDAQ:NNBR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.96 and traded as high as $4.09. NN shares last traded at $4.08, with a volume of 161,942 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Noble Financial initiated coverage on shares of NN in a research note on Monday, April 15th. They issued an “outperform” rating and a $6.00 target price for the company.

NN Price Performance

The company has a quick ratio of 1.27, a current ratio of 2.04 and a debt-to-equity ratio of 1.30. The stock’s 50-day simple moving average is $3.25 and its two-hundred day simple moving average is $3.96. The company has a market capitalization of $204.04 million, a price-to-earnings ratio of -2.91 and a beta of 2.97.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $121.20 million for the quarter, compared to analyst estimates of $121.77 million. NN had a negative return on equity of 8.92% and a negative net margin of 10.86%. Equities research analysts predict that NN, Inc. will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other NN news, Director Raynard D. Benvenuti sold 236,104 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $3.14, for a total transaction of $741,366.56. Following the completion of the transaction, the director now directly owns 29,880 shares in the company, valued at $93,823.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NN

A number of large investors have recently added to or reduced their stakes in NNBR. SG Americas Securities LLC purchased a new stake in shares of NN during the first quarter worth $53,000. Fifth Lane Capital LP purchased a new stake in shares of NN during the first quarter worth $53,000. Cannon Global Investment Management LLC purchased a new stake in shares of NN during the first quarter worth $85,000. Victory Capital Management Inc. purchased a new stake in shares of NN during the fourth quarter worth $140,000. Finally, J.W. Cole Advisors Inc. grew its holdings 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 buying an additional 40,290 shares in the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.