NN, Inc. (NASDAQ:NNBR) Stock Short Interest Report for October

by · The Cerbat Gem

NN, Inc. (NASDAQ:NNBR – Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 6,187,554 shares, an increase of 76.3% from the September 30th total of 3,509,517 shares. Approximately 7.0% of the company’s stock are short sold. Based on an average daily volume of 3,443,951 shares, the short-interest ratio is currently 1.8 days.

NN Stock Performance

NASDAQ:NNBR traded down $0.03 during trading hours on Friday, reaching $3.93. 1,836,312 shares of the stock were exchanged, compared to its average volume of 3,114,905. The stock has a market capitalization of $368.40 million, a P/E ratio of -4.57 and a beta of 2.65. The firm has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $2.71. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.60. NN has a 52 week low of $1.10 and a 52 week high of $4.79.

NN (NASDAQ:NNBR – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. NN had a positive return on equity of 25.25% and a negative net margin of 5.43%. The firm had revenue of $131.10 million for the quarter, compared to analysts’ expectations of $118.10 million. As a group, sell-side analysts forecast that NN will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of NN

Several hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new position in NN during the 3rd quarter valued at approximately $36,000. Kings Path Partners LLC bought a new position in NN during the 3rd quarter worth $157,000. State Street Corp increased its position in NN by 6.6% in the second quarter. State Street Corp now owns 224,344 shares of the industrial products company’s stock worth $805,000 after buying an additional 13,835 shares during the period. Ameritas Advisory Services LLC acquired a new stake in NN in the second quarter worth $54,000. Finally, AXQ Capital LP acquired a new stake in NN in the second quarter worth $62,000. Institutional investors own 53.92% of the company’s stock.

Analyst Upgrades and Downgrades

NNBR has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research note on Thursday, October 15th. Wall Street Zen cut NN from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised NN from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Lake Street Capital restated a “buy” rating and set a $7.00 price objective on shares of NN in a research note on Friday, August 7th. Finally, Craig Hallum started coverage on NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.67.

Get Our Latest Analysis on NN

NN Company Profile

(Get Free Report)

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturer that produces highly engineered components and assemblies for customers in the automotive, electrical, industrial, aerospace, and medical markets. Its products are designed for applications that require precision, durability, and consistent performance.

The company’s manufacturing capabilities have included precision machining, metal forming, plastic injection molding, and the production of complex assemblies. NN, Inc has supplied components used in systems such as automotive powertrains, electrical and industrial equipment, medical devices, and other specialized products.

Founded in 1980 as NN Ball & Roller, the company expanded beyond its original bearing-component operations through acquisitions and later adopted the NN, Inc name.

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