NN (NASDAQ:NNBR) Earns Outperform Rating from Analysts at Noble Financial

Noble Financial began coverage on shares of NN (NASDAQ:NNBR) in a research report released on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $6.00 target price 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.

A number of other analysts have also recently commented on the company. TheStreet raised NN from a d rating to a c- rating in a research note on Wednesday, February 14th. StockNews.com raised NN from a sell rating to a hold rating in a research note on Wednesday, March 20th.

NN Stock Performance

Shares of NASDAQ:NNBR opened at $3.88 on Monday. The stock has a market capitalization of $192.21 million, a P/E ratio of -2.87 and a beta of 3.02. NN has a 1-year low of $0.97 and a 1-year high of $5.40. The company has a current ratio of 2.24, a quick ratio of 1.36 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $4.64 and a two-hundred day moving average price of $3.56.

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 the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $112.53 million for the quarter, compared to the consensus estimate of $116.00 million. NN had a negative return on equity of 9.19% and a negative net margin of 10.25%. Equities analysts predict that NN will post -0.21 earnings per share for the current year.

Institutional Trading of NN

A number of large investors have recently bought and sold shares of NNBR. Nomura Holdings Inc. increased its stake in NN by 1,135.5% during the 1st quarter. Nomura Holdings Inc. now owns 2,138,000 shares of the industrial products company’s stock worth $6,099,000 after purchasing an additional 1,964,948 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in NN during the 3rd quarter worth approximately $1,674,000. Millennium Management LLC bought a new stake in NN during the 2nd quarter worth approximately $1,243,000. First Manhattan Co. boosted its position in NN by 17.2% during the 4th quarter. First Manhattan Co. now owns 1,700,000 shares of the industrial products company’s stock worth $2,550,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in NN by 128.1% during the 1st quarter. Renaissance Technologies LLC now owns 426,500 shares of the industrial products company’s stock worth $1,228,000 after acquiring an additional 239,510 shares during the last quarter. 53.92% of the stock is owned by 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.