NN (NASDAQ:NNBR) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of NN, Inc. (NASDAQ:NNBR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.60 and traded as high as $3.82. NN shares last traded at $3.78, with a volume of 51,698 shares traded.

NN Stock Performance

The company’s 50 day simple moving average is $3.67 and its 200 day simple moving average is $3.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.29 and a current ratio of 2.04. The stock has a market cap of $184.02 million, a PE ratio of -2.61 and a beta of 2.93.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 7th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $122.99 million during the quarter, compared to analyst estimates of $123.59 million. NN had a negative return on equity of 7.70% and a negative net margin of 8.38%. During the same period in the prior year, the company posted ($0.08) earnings per share. Analysts expect that NN, Inc. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On NN

Several large investors have recently made changes to their positions in NNBR. Legion Partners Asset Management LLC boosted its holdings in shares of NN by 11.9% in the 2nd quarter. Legion Partners Asset Management LLC now owns 4,791,929 shares of the industrial products company’s stock worth $14,376,000 after buying an additional 510,000 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in NN in the second quarter valued at about $1,032,000. American Century Companies Inc. boosted its stake in NN by 80.7% in the second quarter. American Century Companies Inc. now owns 642,568 shares of the industrial products company’s stock valued at $1,928,000 after acquiring an additional 287,060 shares during the last quarter. Register Financial Advisors LLC grew its position in shares of NN by 20.2% during the 1st quarter. Register Financial Advisors LLC now owns 1,037,463 shares of the industrial products company’s stock valued at $4,918,000 after acquiring an additional 174,487 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of NN during the 2nd quarter worth approximately $429,000. 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.