NN, Inc. (NASDAQ:NNBR – Get Free Report) major shareholder Corre Partners Management, Llc sold 136,165 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $2.63, for a total transaction of $358,113.95. Following the transaction, the insider owned 372,744 shares of the company’s stock, valued at approximately $980,316.72. This trade represents a 26.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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 Friday, April 24th, Corre Partners Management, Llc sold 12,199 shares of NN stock. The stock was sold at an average price of $2.51, for a total transaction of $30,619.49.
- On Thursday, April 23rd, Corre Partners Management, Llc sold 555,305 shares of NN stock. The stock was sold at an average price of $2.69, for a total transaction of $1,493,770.45.
- On Wednesday, April 22nd, Corre Partners Management, Llc sold 94,380 shares of NN stock. The stock was sold at an average price of $2.30, for a total transaction of $217,074.00.
- On Tuesday, April 21st, Corre Partners Management, Llc sold 55,483 shares of NN stock. The shares were sold at an average price of $2.21, for a total value of $122,617.43.
- 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 6.4%
Shares of NASDAQ:NNBR opened at $2.65 on Tuesday. The business’s 50-day moving average is $1.64 and its 200 day moving average is $1.54. NN, Inc. has a 1 year low of $1.10 and a 1 year high of $2.88. The firm has a market capitalization of $133.00 million, a P/E ratio of -2.48, a P/E/G ratio of 0.48 and a beta of 2.21. The company has a debt-to-equity ratio of 4.52, a current ratio of 1.83 and a quick ratio of 1.09.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. B. Riley Financial cut their price target on shares of NN from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research note on Tuesday, April 21st. Finally, Zacks Research lowered shares of NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, NN has a consensus rating of “Reduce” and an average target price of $3.00.
Get Our Latest Stock Analysis on NNBR
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of NNBR. Nantahala Capital Management LLC increased its holdings in shares of NN by 69.4% in the second 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. Paradigm Capital Management Inc. NY increased its stake in shares of NN by 21.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,758,252 shares of the industrial products company’s stock worth $5,792,000 after acquiring an additional 483,952 shares during the period. UBS Group AG increased its stake in shares of NN by 15,147.1% in the third quarter. UBS Group AG now owns 279,632 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 277,798 shares during the period. Renaissance Technologies LLC increased its stake in shares of NN by 291.0% in the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the industrial products company’s stock worth $470,000 after acquiring an additional 273,500 shares during the period. Finally, First Manhattan CO. LLC. increased its stake in shares of NN by 8.2% in the fourth quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock worth $3,845,000 after acquiring an additional 228,800 shares during the period. 53.92% of the stock is owned by institutional investors and hedge funds.
About NN
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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