Stick With NN Inc. (NNBR). The Bull Are Alive And Well

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    Corre Partners Management LLC recently announced the acquisition of new stake in NN Inc. (NASDAQ:NNBR). The institutional investor has increased its shareholding in the Industrials company by 49.27% to 4.09 million shares with purchase of 1.35 million shares. This fresh investment now brings its stake to 9.57% valued currently at $21.52 million. In addition, Paradigm Capital Management, Inc. raised its holdings by 1.74 million to 3.45 million shares. And Smith, Graham & Co. Investment Ad. has lifted its position by 5.04% or 54875.0 shares – to 1.14 million shares.

    With over 2.68 million NN Inc. (NNBR) shares trading Monday and a closing price of $5.48 on the day, the dollar volume was approximately $14.69 million. The shares have shown a negative weekly performance of -14.51% and its price on 08/24/20 lost nearly -7.74%. Currently, there are 42.20M common shares owned by the public and among those 41.55M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for NNBR have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $6.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NN Inc. stock is 2.00 for the next 12 months. The average price target is 45.2% above its last price level and an upside to the estimated low will see the stock gain 8.67% over that period. But an upside of 54.33% will see the stock hit the forecast high price target while mean target price for the stock is $9.00.

    Insiders at the company have transacted a total of 24 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 448,512 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 7,250 shares.

    The top 3 mutual fund holders in NN Inc. are PRIMECAP Odyssey Aggressive Growt, Vanguard Investment Series Plc -, and Vanguard Total Stock Market Index. PRIMECAP Odyssey Aggressive Growt owns 3.97 million shares of the company’s stock, all valued at over $20.9 million. The company sold -0.1 million shares recently to bring their total holdings to about 9.29% of the shares outstanding. Vanguard Investment Series Plc – sold 14175.0 shares to see its total holdings shrink to 1.17 million shares valued at over $6.16 million and representing 2.74% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.51% of the shares outstanding.

    Shares of NN Inc. (NASDAQ: NNBR) opened at $6.90, up $0.96 from a prior closing price of $5.94. However, the script later closed the day at $5.48, down -7.74%. The company’s stock has a 5-day price change of -14.51% and 30.48% over the past three months. NNBR shares are trading -40.76% year to date (YTD), with the 12-month market performance down to -9.42% lower. It has a 12-month low price of $1.35 and touched a high of $10.15 over the same period. Currently, 2.68 million shares have been traded, compared to an average intraday trading volume of 377.79K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.52%, 5.04%, and -8.50% respectively.

    Institutional ownership of NN Inc. (NASDAQ: NNBR) shares accounts for 95.50% of the company’s 42.20M shares outstanding. Mutual fund holders own 54.93%, while other institutional holders and individual stakeholders account for 7.29% and 38.68% respectively.

    It has a market capitalization of $230.27M and a beta (3y monthly) value of 3.58. The earnings-per-share (ttm) stands at -$7.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.23% over the week and 8.83% over the month.

    Analysts forecast that NN Inc. (NNBR) will achieve an EPS of -$0.04 for the current quarter, -$0.02 for the next quarter and $0.34 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.33 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 86.40%, and 244.00% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to -35.10% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate NN Inc. (NNBR) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the NNBR, a number of firms have released research notes about the stock. William Blair stated their Outperform rating for the stock in a research note on November 11, 2019, with the firm’s price target at. JP Morgan coverage for the NN Inc. (NNBR) stock in a research note released on January 07, 2019 offered a Overweight rating with a price target of $15. Stifel was of a view on August 13, 2018 that the stock is Hold, while SunTrust gave the stock Buy rating on June 16, 2017, issuing a price target of $37. Lake Street on their part issued Buy rating on December 21, 2016.

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