NN (NASDAQ:NNBR) Research Coverage Started at Noble Financial

Noble Financial initiated coverage on shares of NN (NASDAQ:NNBR) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $6.00 price objective on the industrial products company’s stock. Noble Financial also issued estimates for NN’s Q1 2024 earnings at ($0.10) EPS, Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.19) EPS and FY2025 earnings at ($0.02) EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com upgraded shares of NN from a sell rating to a hold rating in a report on Wednesday, March 20th. TheStreet raised shares of NN from a d rating to a c- rating in a research report on Wednesday, February 14th.

NN Price Performance

Shares of NNBR opened at $3.90 on Monday. NN has a twelve month low of $0.97 and a twelve month high of $5.40. The firm’s fifty day simple moving average is $4.62 and its 200-day simple moving average is $3.56. The firm has a market capitalization of $193.21 million, a price-to-earnings ratio of -2.89 and a beta of 3.02. The company has a current ratio of 2.24, a quick ratio of 1.36 and a debt-to-equity ratio of 1.19.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Monday, March 11th. The industrial products company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). NN had a negative net margin of 10.25% and a negative return on equity of 9.19%. The firm had revenue of $112.53 million during the quarter, compared to analyst estimates of $116.00 million. Equities analysts forecast that NN will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of NN by 4.9% in the 1st quarter. Bank of America Corp DE now owns 152,372 shares of the industrial products company’s stock valued at $438,000 after buying an additional 7,122 shares during the last quarter. BlackRock Inc. grew its position in NN by 0.9% during the 2nd quarter. BlackRock Inc. now owns 768,966 shares of the industrial products company’s stock worth $1,838,000 after purchasing an additional 7,205 shares during the last quarter. LPL Financial LLC purchased a new position in NN during the 2nd quarter worth $28,000. Price T Rowe Associates Inc. MD grew its position in NN by 27.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 67,320 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 14,400 shares during the last quarter. Finally, Barclays PLC grew its position in NN by 703.0% during the 4th quarter. Barclays PLC now owns 17,071 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 14,945 shares during the last quarter. 53.92% of the stock is owned by hedge funds and other institutional investors.

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.