Key Points
- Corre Partners Management sold roughly 933,247 NN, Inc. shares across mid‑April at average prices between $2.04 and $2.30, generating about $2.05 million in proceeds and substantially trimming its stake (one filing showed an 8.65% drop after the April 21 sale).
- NN, Inc. (NASDAQ:NNBR) is trading around $2.36 (up 7.8%), has a market cap of about $118.5M and a negative P/E, and carries an average analyst rating of "Reduce" with a $3.00 average price target.
NN, Inc. (NASDAQ:NNBR - Get Free Report) major shareholder Corre Partners Management, Llc sold 55,483 shares of the firm's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $2.21, for a total value of $122,617.43. Following the sale, the insider directly owned 586,197 shares in the company, valued at approximately $1,295,495.37. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Corre Partners Management, Llc also recently made the following trade(s):
- On Wednesday, April 22nd, Corre Partners Management, Llc sold 94,380 shares of NN stock. The shares were sold at an average price of $2.30, for a total value of $217,074.00.
- On Monday, April 20th, Corre Partners Management, Llc sold 79,757 shares of NN stock. The shares were sold at an average price of $2.24, for a total value of $178,655.68.
- On Friday, April 17th, Corre Partners Management, Llc sold 348,161 shares of NN stock. The shares were sold at an average price of $2.29, for a total value of $797,288.69.
- On Thursday, April 16th, Corre Partners Management, Llc sold 40,030 shares of NN stock. The shares were sold at an average price of $2.04, for a total value of $81,661.20.
- On Wednesday, April 15th, Corre Partners Management, Llc sold 315,436 shares of NN stock. The shares were sold at an average price of $2.06, for a total value of $649,798.16.
NN Trading Up 7.8%
NASDAQ NNBR opened at $2.36 on Thursday. NN, Inc. has a twelve month low of $1.10 and a twelve month high of $2.63. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 4.52. The company has a market cap of $118.45 million, a price-to-earnings ratio of -2.21, a price-to-earnings-growth ratio of 0.42 and a beta of 2.21. The business's fifty day moving average is $1.59 and its 200 day moving average is $1.53.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on NNBR shares. B. Riley Financial dropped their price target on NN from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, March 6th. Zacks Research lowered NN from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NN in a research note on Tuesday. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NN presently has an average rating of "Reduce" and an average price target of $3.00.
Read Our Latest Stock Analysis on NN
Institutional Trading of NN
Several hedge funds have recently bought and sold shares of the business. First Manhattan CO. LLC. grew its position in NN by 8.2% in the 4th quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company's stock valued at $3,845,000 after purchasing an additional 228,800 shares during the period. Nomura Holdings Inc. grew its position in NN by 0.6% in the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company's stock valued at $6,117,000 after purchasing an additional 18,615 shares during the period. Paradigm Capital Management Inc. NY grew its position in NN by 21.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company's stock valued at $5,792,000 after purchasing an additional 483,952 shares during the period. Nantahala Capital Management LLC grew its position in NN by 69.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company's stock valued at $5,127,000 after purchasing an additional 1,000,000 shares during the period. Finally, Register Financial Advisors LLC grew its position in NN by 2.4% in the 3rd quarter. Register Financial Advisors LLC now owns 1,276,878 shares of the industrial products company's stock valued at $2,630,000 after purchasing an additional 29,498 shares during the period. Institutional investors and hedge funds own 53.92% of the company's stock.
NN Company Profile
(
Get Free Report)
NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.
The company's operations are organized into three business segments.
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