RBF Capital LLC Purchases 348,945 Shares of NN, Inc. $NNBR

RBF Capital LLC lifted its holdings in NN, Inc. (NASDAQ:NNBR) by 71.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 834,929 shares of the industrial products company’s stock after buying an additional 348,945 shares during the period. RBF Capital LLC’s holdings in NN were worth $1,211,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Two Sigma Investments LP purchased a new stake in shares of NN during the third quarter valued at approximately $27,000. Hudson Bay Capital Management LP purchased a new position in NN in the second quarter worth $29,000. Virtu Financial LLC purchased a new position in NN in the fourth quarter worth $30,000. Quinn Opportunity Partners LLC bought a new position in NN in the 4th quarter valued at $32,000. Finally, Laurel Oak Wealth Management LLC bought a new position in NN in the 1st quarter valued at $72,000. 53.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NNBR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Zacks Research upgraded shares of NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Craig Hallum assumed coverage on shares of NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 price objective for the company. Finally, B. Riley Financial lowered shares of NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, two have issued 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 “Hold” and a consensus target price of $5.00.

NN Price Performance

Shares of NASDAQ NNBR opened at $3.08 on Thursday. The stock has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $2.23. NN, Inc. has a 1-year low of $1.10 and a 1-year high of $4.44. The firm has a market cap of $162.44 million, a price-to-earnings ratio of -2.83 and a beta of 2.56. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 6.39.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, May 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. NN had a positive return on equity of 4.54% and a negative net margin of 7.85%.The business had revenue of $118.45 million during the quarter, compared to the consensus estimate of $106.59 million. Analysts anticipate that NN, Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Raymond T. White sold 18,782 shares of NN stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $2.41, for a total value of $45,264.62. Following the completion of the sale, the director owned 858,283 shares of the company’s stock, valued at approximately $2,068,462.03. This trade represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 19.60% of the company’s stock.

NN 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.