Noble Financial Begins Coverage on NN (NASDAQ:NNBR)

Noble Financial started coverage on shares of NN (NASDAQ:NNBR) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued an outperform rating and a $6.00 price target 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.

NNBR has been the subject of a number of other research reports. StockNews.com raised shares of NN from a sell rating to a hold rating in a report on Wednesday, March 20th. TheStreet upgraded shares of NN from a d rating to a c- rating in a report on Wednesday, February 14th.

NN Stock Performance

NN stock opened at $3.90 on Monday. The stock has a 50-day simple moving average of $4.62 and a 200 day simple moving average of $3.56. The stock has a market capitalization of $193.21 million, a price-to-earnings ratio of -2.89 and a beta of 3.02. The company has a quick ratio of 1.36, a current ratio of 2.24 and a debt-to-equity ratio of 1.19. NN has a 12-month low of $0.97 and a 12-month high of $5.40.

NN (NASDAQ:NNBR) last posted 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). NN had a negative net margin of 10.25% and a negative return on equity of 9.19%. The company had revenue of $112.53 million during the quarter, compared to analyst estimates of $116.00 million. On average, research analysts anticipate that NN will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NNBR. Legion Partners Asset Management LLC boosted its holdings in shares of NN by 3.1% during the 3rd quarter. Legion Partners Asset Management LLC now owns 4,333,141 shares of the industrial products company’s stock worth $8,060,000 after buying an additional 130,000 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of NN during the 3rd quarter worth approximately $1,674,000. Register Financial Advisors LLC increased its position in NN by 26.6% during the 4th quarter. Register Financial Advisors LLC now owns 862,976 shares of the industrial products company’s stock worth $3,452,000 after purchasing an additional 181,258 shares in the last quarter. Barclays PLC increased its position in NN by 703.0% during the 4th quarter. Barclays PLC now owns 17,071 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 14,945 shares in the last quarter. Finally, Wynnefield Capital Inc. acquired a new position in NN during the 2nd quarter worth approximately $67,000. 53.92% of the stock is currently owned by institutional investors and hedge funds.

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.