Bearish Chart Formation for NN, Inc. (NNBR) After Forming Bearish Double Bottom Chart Pattern

June 13, 2018 - By Adrian Mccoy

Investors sentiment decreased to 0.88 in Q1 2018. Its down 0.35, from 1.23 in 2017Q4. It is negative, as 12 investors sold NN, Inc. shares while 30 reduced holdings. 11 funds opened positions while 26 raised stakes. 25.31 million shares or 3.04% more from 24.56 million shares in 2017Q4 were reported.
The Georgia-based Suntrust Banks has invested 0% in NN, Inc. (NASDAQ:NNBR). Bridgeway Capital Mgmt holds 106,200 shares. Vanguard Grp accumulated 1.22M shares or 0% of the stock. First Manhattan Company has 0.02% invested in NN, Inc. (NASDAQ:NNBR). Guyasuta Inv Advisors stated it has 53,635 shares. Tiaa Cref Invest Management Ltd Liability holds 64,674 shares. Nelson Roberts Invest Advsrs Ltd Llc invested in 166 shares. Rhumbline Advisers accumulated 24,730 shares or 0% of the stock. Moreover, Blackrock has 0% invested in NN, Inc. (NASDAQ:NNBR) for 1.81 million shares. Dimensional Fund Advsr Lp stated it has 0.02% of its portfolio in NN, Inc. (NASDAQ:NNBR). Primecap Mngmt Com Ca holds 2.41M shares or 0.04% of its portfolio. California Public Employees Retirement Systems accumulated 84,000 shares or 0% of the stock. Virginia Retirement Systems Et Al has 0% invested in NN, Inc. (NASDAQ:NNBR). North Star Invest Mngmt stated it has 235 shares. Legal General Gp Public Ltd Company holds 0% or 4,967 shares.

The chart of NN, Inc. (NNBR) shows a double bottom with $20.54 target or 5.00 % below today’s $21.63 share price. The 6 months chart pattern indicates high risk for the $598.29M company. It was reported on Jun, 13 by If the $20.54 price target is reached, the company will be worth $29.91 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.76% or $0.375 during the last trading session, reaching $21.625. About 115,780 shares traded. NN, Inc. (NASDAQ:NNBR) has declined 19.96% since June 13, 2017 and is downtrending. It has underperformed by 32.53% the S&P500.

Analysts await NN, Inc. (NASDAQ:NNBR) to report earnings on August, 1. They expect $0.38 earnings per share, down 25.49 % or $0.13 from last year’s $0.51 per share. NNBR’s profit will be $10.51M for 14.23 P/E if the $0.38 EPS becomes a reality. After $0.32 actual earnings per share reported by NN, Inc. for the previous quarter, Wall Street now forecasts 18.75 % EPS growth.

NN, Inc., a diversified industrial company, makes high precision bearing components, industrial plastic products, and precision metal components to various markets in North America, Western Europe, Eastern Europe, South America, and China. The company has market cap of $598.29 million. The firm operates through three divisions: Precision Bearing Components Group, Precision Engineered Products Group, and Autocam Precision Components Group. It has a 3.68 P/E ratio. The Precision Bearing Components Group segment makes and sells precision steel balls that are used primarily by manufacturers of anti-friction bearings and constant velocity joints; steel rollers, including tapered rollers used in automotive gearbox applications, automotive wheel bearings, and various industrial applications; cylindrical rollers used in various industrial applications; and precision metal retainers for roller bearings.

NN, Inc. (NASDAQ:NNBR) Institutional Positions Chart

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