Nn Inc sees $1.66 million in stock sales by major shareholders, according to Investing.com

Major shareholders N.N Inc (NASDAQ: ) sold a significant portion of their holdings according to a recent SEC filing. In the year The sale, which took place on January 14, 2025, involved a total of $1,656,750 worth of common stock. The shares traded between $3.7599 and $4.4145. As he says Invest Pro Information, the stock has since fallen significantly, now trading at $2.74, with a market capitalization of about $137 million.

Corre Opportunities Qualified Master Fund, LP, entered into transactions with its affiliates Corre Partners Management, LLC and Corre Partners Advisors, LLC. These entities, managed by John Barrett and Eric Soderlund, are considered ten percent owners of NN Inc. The transactions resulted in a dilution of the Company’s common stock.

The shares are sold in multiple transactions, and the price reflects the average within the specified range. The report said reporters were willing to provide more details on the number of shares traded at each price when requested.

Post-transaction, Corre Opportunities Qualified Master Fund, LP held ownership of 5,395,064 shares, while Corre Horizon Fund, LP held 810,567 shares, according to the filing. Despite the current market challenges, analysts maintain price targets between $6-7, suggesting a reversal from current levels.

In other recent news, NN Inc has reported significant improvements in its financial performance. Despite the slowdown in the North American auto industry, the company posted record sales and profits in China, with net sales of $113.6 million and adjusted EBITDA of $11.6 million. The company It highlighted its goal of achieving a 10% adjusted EBTA margin by 2025.

These recent developments include securing more than $100 million in new business wins over the past 21 months and reducing losses from underpowered plants. NN Inc. has launched a new rear-wheel drive product in China in partnership with Tier 1 suppliers and is on track to achieve its $55 to $70 million annual growth plan.

The company maintains a positive outlook for 2024, with continued growth expected in the energy, medical and electrical markets. The power grid sector is targeting new business opportunities, with a pipeline worth $230 million. Despite the challenges in the global market, NN Inc. is leading towards its 2025 goals through strategic growth areas and innovative projects.

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