Corre Partners Management LLC has recently announced that it has increased stake in NN Inc. (NASDAQ:NNBR) by 17.66%. After grabbing 6.53 million shares, the institutional investor is now in possession of 0.98 million shares of the Industrials Company. The new investment brought the stake of investor firm to 14.89% having worth around $7.05 million.
NN Inc. (NNBR) concluded trading on 05/24/23 at a closing price of $1.74, with 1.11 million shares of worth about $1.93 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.77% during that period and on Wednesday the price saw a gain of about 15.23%. Currently the company’s common shares owned by public are about 45.31M shares, out of which, 42.26M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the NNBR stock and their offered price forecasts bring an average price target of $3.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $2.00. The stock’s current price level is 50.29% above of average price target set by the analysts, while a rise to estimated low would result in gain of 13.0% for the stock. However, touching the estimated high of $5.00 would mean a gain of 65.2% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 2,487,987 shares in 33 of the transactions. In 14 selling transactions, insiders dumped 69,010 shares.
Vanguard Total Stock Market ETF, Royce Small-Cap Opportunity Fund, and Allspring Special Small Cap Value are the top 3 mutual funds which are holding stakes in NN Inc. Vanguard Total Stock Market ETF is currently holding 1.56 million shares of worth totaling $1.68 million. The company recently came buying 0.0 shares which brought its stake up to 3.55% of the company’s outstanding shares. Royce Small-Cap Opportunity Fund bought 10000.0 shares, after which its hold over company’s outstanding shares expand to 3.23%, leaving 1.42 million shares with the mutual fund that have a worth of about $1.53 million. Allspring Special Small Cap Value, after selling 0.69 million shares, have now control over 1.57% of the stake in the company. It holds 98000.0 shares of worth $0.74 million.
NN Inc. (NASDAQ: NNBR) started trading at $1.49, below -$0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 1.7600, or with a gain of 15.23%. Stock saw a price change of 40.32% in past 5 days and over the past one month there was a price change of 61.11%. Year-to-date (YTD), NNBR shares are showing a performance of 16.00% which decreased to -33.08% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.97 but also hit the highest price of $3.61 during that period. The average intraday trading volume for NN Inc. shares is 309.46K. The stock is currently trading 47.20% above its 20-day simple moving average (SMA20), while that difference is up 52.96% for SMA50 and it goes to -2.25% lower than SMA200.
Corre Partners Management LLC acquired 6.53 million shares of NN Inc. having value of about $7.05 million. Data submitted at the U.S SEC by Corre Partners Management LLC revealed that the firm now holds 0.98 million shares in the company valued at close to $1705694.16, or have control over 17.66% stake in the company. NN Inc. (NASDAQ: NNBR) currently have 45.31M outstanding shares and institutions hold larger chunk of about 75.40% of that. Holding of mutual funds in the company is about 28.58% while other institutional holders and individual stake holders have control over 47.55% and 19.67% of the stake respectively.
The stock has a current market capitalization of $79.10M and its 3Y-monthly beta is at 2.72. It has posted earnings per share of -$0.99 in the same period. It has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.87. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NNBR, volatility over the week remained 10.93% while standing at 9.39% over the month.
Analysts are in expectations that NN Inc. (NNBR) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter EPS is $0.02 and it is -$0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.09 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -1.50% while it is estimated to increase by 6.70% in next year. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of -24.00% made by the stock over the past 5-years.
Analysts at 1 brokerage firms have issued recommendations for the NN Inc. (NNBR)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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