173,541 Shares in NN, Inc. $NNBR Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 173,541 shares of the industrial products company’s stock, valued at approximately $623,000.

A number of other hedge funds also recently added to or reduced their stakes in NNBR. First Manhattan CO. LLC. grew its position in shares of NN by 8.2% during the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after acquiring an additional 228,800 shares during the last quarter. Nomura Holdings Inc. increased its holdings in shares of NN by 0.6% in the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock worth $6,117,000 after acquiring an additional 18,615 shares during the period. Paradigm Capital Management Inc. NY lifted its position in NN by 21.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock valued at $5,792,000 after purchasing an additional 483,952 shares during the last quarter. Nantahala Capital Management LLC lifted its position in NN by 69.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, RBF Capital LLC boosted its stake in 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 during the period. 53.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NNBR shares. Wall Street Zen cut shares of NN from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. Zacks Research upgraded NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Craig Hallum assumed coverage on NN in a report on Monday, July 20th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Lake Street Capital restated a “buy” rating and issued a $7.00 target price on shares of NN in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.67.

NN Stock Performance

NNBR stock opened at $3.81 on Friday. The company has a 50-day simple moving average of $3.40 and a 200 day simple moving average of $2.48. The company has a market capitalization of $314.63 million, a P/E ratio of -3.97 and a beta of 2.57. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. NN, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $4.48.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 EPS for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The firm had revenue of $128.74 million for the quarter, compared to analysts’ expectations of $116.09 million. Sell-side analysts predict that NN, Inc. will post 0.13 earnings per share for the current fiscal year.

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.