NN (NNBR) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 3,194,727 to 3,131,045 shares, with 24 days to go before the expiry. The short open interest has decreased by -2%, amounting to a reduction of -63,682 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 12.4% of the float of the company. The average daily volume of the stock is 129,920 shares. The short interest information was released on Wednesday Aug 24th after the market close.
NN (NASDAQ:NNBR): The stock opened at $17.73 on Wednesday but the bulls could not build on the opening and the stock topped out at $18.44 for the day. The stock traded down to $17.19 during the day, due to lack of any buying support eventually closed down at $17.25 with a loss of -1.82% for the day. The stock had closed at $17.57 on the previous day. The total traded volume was 166,185 shares.
In a related news,The director of Nn Inc, Warshaw Steven T sold 1,000 shares at $18.49 on June 20, 2016. The Insider selling transaction had a total value worth of $18,490. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
NN, Inc. is an industrial company and a global manufacturer of metal bearing, plastic, rubber and precision metal components. The Company has three operating segments, the Metal Bearing Components Segment, the Plastic and Rubber Components Segment, and the Autocam Precision Components Segment. It has 25 manufacturing plants in the United States, Western Europe, Eastern Europe, South America and China. The Metal Bearing Components segment manufactures and supplies bearing components, consisting of balls, cylindrical rollers, tapered rollers and metal retainers. The Plastic and Rubber Components segment includes bearing seals, plastic retainers and precision plastic components. The Autocam Precision Components segment sells a range of engineered, close tolerance, precision-machined metal components and subassemblies.