NN (NASDAQ:NNBR) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

NN, Inc. (NASDAQ:NNBR)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.53 and traded as high as $3.73. NN shares last traded at $3.68, with a volume of 291,063 shares.

NN Price Performance

The firm has a market cap of $183.82 million, a price-to-earnings ratio of -3.38 and a beta of 2.96. The company has a current ratio of 1.96, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average of $3.74 and a 200 day moving average of $3.53.

Hedge Funds Weigh In On NN

A number of hedge funds and other institutional investors have recently bought and sold shares of NNBR. Empowered Funds LLC lifted its position in NN by 8.1% during the first quarter. Empowered Funds LLC now owns 158,285 shares of the industrial products company’s stock worth $750,000 after acquiring an additional 11,900 shares during the last quarter. SG Americas Securities LLC acquired a new stake in NN during the first quarter worth approximately $53,000. Acadian Asset Management LLC lifted its position in NN by 60.7% during the first quarter. Acadian Asset Management LLC now owns 103,342 shares of the industrial products company’s stock worth $488,000 after acquiring an additional 39,022 shares during the last quarter. Register Financial Advisors LLC raised its position in shares of NN by 11.9% in the second quarter. Register Financial Advisors LLC now owns 1,160,968 shares of the industrial products company’s stock valued at $3,483,000 after buying an additional 123,505 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of NN in the second quarter valued at approximately $429,000. Institutional investors own 53.92% of the company’s stock.

NN Company 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.