Is NN, Inc. (NNBR) A Good Stock To Buy?

As aggregate interest increased, key money managers have jumped into NN, Inc. (NASDAQ:NNBR) headfirst. SG Capital Management, led by Ken Grossman and Glen Schneider, created the most valuable position in NN, Inc. (NASDAQ:NNBR). SG Capital Management had $1.1 million invested in the company at the end of the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to NN, Inc. (NASDAQ:NNBR). We will take a look at First Financial Corp (NASDAQ:THFF), Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL), Movado Group, Inc (NYSE:MOV), and FutureFuel Corp. (NYSE:FF). This group of stocks’ market values are similar to NNBR’s market value.

As you can see these stocks had an average of 13.5 hedge funds with bullish positions and the average amount invested in these stocks was $38 million. That figure was $47 million in NNBR’s case. Movado Group, Inc (NYSE:MOV) is the most popular stock in this table. On the other hand First Financial Corp (NASDAQ:THFF) is the least popular one with only 5 bullish hedge fund positions. NN, Inc. (NASDAQ:NNBR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MOV might be a better candidate to consider taking a long position in.