Price Don’t Lie: Will NN, Inc. Go Down Anytime Soon?

Price Don't Lie: Will NN, Inc. Go Down Anytime Soon?

The stock of NN, Inc. (NASDAQ:NNBR) is a huge mover today! About 188,602 shares traded hands or 40.38% up from the average. NN, Inc. (NASDAQ:NNBR) has risen 41.09% since February 26, 2016 and is uptrending. It has outperformed by 30.66% the S&P500.
The move comes after 9 months positive chart setup for the $486.37M company. It was reported on Oct, 1 by Barchart.com. We have $23.47 PT which if reached, will make NASDAQ:NNBR worth $145.91M more.

Analysts await NN, Inc. (NASDAQ:NNBR) to report earnings on November, 2. They expect $0.45 earnings per share, up 45.16% or $0.14 from last year’s $0.31 per share. NNBR’s profit will be $12.13 million for 10.03 P/E if the $0.45 EPS becomes a reality. After $0.46 actual earnings per share reported by NN, Inc. for the previous quarter, Wall Street now forecasts -2.17% negative EPS growth.

NN, Inc. (NASDAQ:NNBR) Ratings Coverage

Out of 5 analysts covering NN Inc (NASDAQ:NNBR), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. NN Inc has been the topic of 6 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of NN, Inc. (NASDAQ:NNBR) earned “Market Outperform” rating by Avondale on Friday, March 11. The firm earned “Overweight” rating on Friday, July 24 by Stephens. Stifel Nicolaus downgraded the stock to “Hold” rating in Monday, October 26 report. The firm earned “Sell” rating on Friday, August 28 by Zacks. William Blair initiated NN, Inc. (NASDAQ:NNBR) on Thursday, September 3 with “Mkt Perform” rating. Stifel Nicolaus initiated it with “Buy” rating and $30 target price in Tuesday, August 18 report.

According to Zacks Investment Research, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE)”

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.17, from 1.28 in 2016Q1. The ratio fall, as 13 funds sold all NN, Inc. shares owned while 34 reduced positions. 18 funds bought stakes while 34 increased positions. They now own 25.24 million shares or 0.97% less from 25.49 million shares in 2016Q1.
Blackrock Mgmt holds 0% or 115,841 shares in its portfolio. Jennison Associate Ltd Liability accumulated 3.03M shares or 0.05% of the stock. Systematic Financial Management Limited Partnership accumulated 86,602 shares or 0.02% of the stock. Da Davidson Com owns 794 shares or 0% of their US portfolio. Cornerstone Capital Management Lc accumulated 0% or 4,900 shares. Metropolitan Life Ins Ny holds 0% or 19,126 shares in its portfolio. Fmr Ltd Liability Co, a Massachusetts-based fund reported 1.23M shares. The New Jersey-based Jacobs Levy Equity Management has invested 0.01% in NN, Inc. (NASDAQ:NNBR). Bnp Paribas Arbitrage accumulated 1,020 shares or 0% of the stock. Suntrust Banks Inc last reported 0% of its portfolio in the stock. Paloma Prtnrs Management has invested 0% of its portfolio in NN, Inc. (NASDAQ:NNBR). Miles Capital owns 15,741 shares or 0.15% of their US portfolio. Wellington Mngmt Grp Ltd Liability Partnership has 1.46 million shares for 0.01% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) reported 325 shares or 0% of all its holdings. Moreover, Skylands Capital Ltd Llc has 0.98% invested in NN, Inc. (NASDAQ:NNBR) for 428,500 shares.

Insider Transactions: Since June 7, 2016, the stock had 1 insider purchase, and 1 insider sale for $22,779 net activity. The insider WARSHAW STEVEN T sold 2,500 shares worth $47,550. Floyd David bought 1,458 shares worth $24,771.

More important recent NN, Inc. (NASDAQ:NNBR) news were published by: Prnewswire.com which released: “NN, Inc. Appoints David K. Floyd To Board of Directors” on May 12, 2016, also Prnewswire.com published article titled: “NN Announces CFO Retirement”, Prnewswire.com published: “NN, Inc. Files Annual Report On Form 10-K For 2015” on March 15, 2016. More interesting news about NN, Inc. (NASDAQ:NNBR) was released by: Prnewswire.com and their article: “NN, Inc. Announces Opening Of New Plant In Mexico” with publication date: October 29, 2015.

NNBR Company Profile

NN, Inc., incorporated on October 12, 1993, is a diversified industrial firm and a maker of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Firm operates through three divisions: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.

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