Moss Adams Wealth Advisors LLC Buys New Shares in NN, Inc. (NASDAQ:NNBR)

Moss Adams Wealth Advisors LLC purchased a new position in shares of NN, Inc. (NASDAQ:NNBR) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,000 shares of the industrial products company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in NN by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 127,000 shares of the industrial products company’s stock worth $381,000 after buying an additional 8,500 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of NN in the 1st quarter worth approximately $53,000. Fifth Lane Capital LP purchased a new stake in shares of NN in the 1st quarter valued at $53,000. Empowered Funds LLC grew its holdings in shares of NN by 8.1% during the 1st quarter. Empowered Funds LLC now owns 158,285 shares of the industrial products company’s stock valued at $750,000 after purchasing an additional 11,900 shares during the last quarter. Finally, Cannon Global Investment Management LLC purchased a new position in NN in the 1st quarter worth $85,000. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

NN Stock Performance

NASDAQ NNBR opened at $4.16 on Friday. The company has a 50-day simple moving average of $3.75 and a two-hundred day simple moving average of $3.57. NN, Inc. has a 12-month low of $1.70 and a 12-month high of $5.40. The firm has a market cap of $208.02 million, a price-to-earnings ratio of -2.97 and a beta of 2.93. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.39.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. NN had a negative return on equity of 7.70% and a negative net margin of 8.38%. The company had revenue of $122.99 million during the quarter, compared to analysts’ expectations of $123.59 million. During the same period in the prior year, the business posted ($0.08) EPS. On average, equities analysts forecast that NN, Inc. will post -0.16 EPS for the current year.

NN Profile

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.