NN (NASDAQ:NNBR) Stock Breaks Above 200 Day Moving Average – Should You Sell?

NN, Inc. (NASDAQ:NNBR)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.03 and traded as high as $4.14. NN shares last traded at $3.94, with a volume of 2,571,198 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NNBR. Lake Street Capital reissued a “buy” rating and set a $7.00 price target on shares of NN in a research note on Friday, August 7th. Craig Hallum initiated coverage on NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a research note on Friday, July 17th. Wall Street Zen raised NN from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Finally, Zacks Research raised NN from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.67.

NN Stock Performance

The business’s fifty day moving average price is $3.69 and its two-hundred day moving average price is $3.05. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.08 and a current ratio of 1.79. The stock has a market capitalization of $284.90 million, a P/E ratio of -3.59 and a beta of 2.65.

NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $128.74 million for the quarter, compared to analysts’ expectations of $116.09 million. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. As a group, sell-side analysts forecast that NN, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On NN

Several institutional investors have recently modified their holdings of NNBR. State Street Corp increased its position in shares of NN by 6.6% during the 2nd quarter. State Street Corp now owns 224,344 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 13,835 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in NN during the 2nd quarter valued at $54,000. AXQ Capital LP bought a new stake in NN in the second quarter worth $62,000. Susquehanna Fundamental Investments LLC bought a new stake in NN in the second quarter worth $311,000. Finally, Two Sigma Securities LLC bought a new stake in NN in the second quarter worth $85,000. 53.92% of the stock is owned by institutional investors.

NN Company Profile

NN, Inc (NASDAQ: NNBR) is a diversified industrial company that designs and manufactures highly engineered components and assemblies for customers in the automotive, industrial, aerospace and defense, and life sciences markets. Its products include precision metal components, plastic and rubber products, and complex assemblies used in systems and equipment.

The company serves original equipment manufacturers and other industrial customers through manufacturing operations and customer relationships in North America, Europe, and Asia.