NN (NASDAQ:NNBR) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of NN, Inc. (NASDAQ:NNBR) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.62 and traded as high as $3.98. NN shares last traded at $3.90, with a volume of 226,736 shares.

NN Price Performance

The company has a market cap of $184.32 million, a P/E ratio of -3.39 and a beta of 2.97. The company’s 50-day moving average price is $3.86 and its two-hundred day moving average price is $3.63. The company has a current ratio of 1.96, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27.

Institutional Trading of NN

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of NN by 80.7% in the 2nd quarter. American Century Companies Inc. now owns 642,568 shares of the industrial products company’s stock worth $1,928,000 after acquiring an additional 287,060 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of NN during the 2nd quarter valued at approximately $1,032,000. Bank of New York Mellon Corp bought a new position in NN during the second quarter worth $429,000. Legion Partners Asset Management LLC boosted its holdings in NN by 11.9% in the second quarter. Legion Partners Asset Management LLC now owns 4,791,929 shares of the industrial products company’s stock worth $14,376,000 after purchasing an additional 510,000 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in NN during the second quarter valued at $265,000. 53.92% of the stock is owned by institutional investors.

About NN

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.