NN Wins Big with $10M Automotive Electrical Wiring Contract

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NN ($NASDAQ:NNBR) has recently secured a major contract with a leading automotive company for the manufacturing of electrical wiring, valued at $10M. This is a major milestone for NN, as it reinforces their reputation as one of the leading providers of electrical wiring to the automotive industry. Their commitment to quality and innovation has enabled them to provide superior products and services to their customers. With the $10M contract, they have further strengthened their position as the go-to supplier for automotive electrical wiring.

This contract is a clear indication of NN’s success in the automotive industry and puts them in a strong position to continue their growth in the future. With their enhanced reputation and expertise, they can be expected to continue to be a major player in the automotive electrical wiring sector.

Share Price

On Tuesday, NN announced a major breakthrough in the automotive industry. The company has secured a $10 million contract for the manufacturing of electrical wiring for a large automotive company. This has been a big win for the company and its shareholders, as NN stock opened at $2.9 and closed at $3.0, up by 2.0% from its last closing price of 2.9. This marks a significant milestone for the company and is sure to bring in more success in the near future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Nn. NN_Wins_Big_with_10M_Automotive_Electrical_Wiring_Contract”>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Nn. NN_Wins_Big_with_10M_Automotive_Electrical_Wiring_Contract”>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Nn. NN_Wins_Big_with_10M_Automotive_Electrical_Wiring_Contract”>More…

Key Ratios Snapshot

Some of the financial key ratios for Nn are shown below. NN_Wins_Big_with_10M_Automotive_Electrical_Wiring_Contract”>More…

Analysis

At GoodWhale, we conducted an analysis of NN‘s wellbeing and based on the Star Chart we assigned an intermediate health score of 4/10. This score takes into consideration NN’s cashflows and debt, which are likely to be sufficient to pay off debt and fund future operations. After assessing NN’s financials, we determined that it is classified as an ‘elephant’ type of company, which is a type of company that is rich in assets after deducting off liabilities. Given NN’s financial situation, it is likely to be attractive to investors who prioritize strong asset bases and are less concerned with dividend, growth, and profitability. We believe that such investors would likely find NN to be a potentially attractive investment opportunity. More…

Peers

NN Inc is a leading manufacturer of hydraulic cylinders and other hydraulic components. The company has a strong presence in the global market and is competing with a number of other companies, including E&R Engineering Corp, Jiangsu Hengli Hydraulic Co Ltd, and KAP AG.

– E&R Engineering Corp ($TPEX:8027)

E&R Engineering Corp is a publicly traded engineering firm with a market capitalization of $5.19 billion as of 2022. The company has a return on equity of 12.56%. E&R Engineering provides engineering and consulting services to the energy, transportation, and construction industries. The company was founded in 1968 and is headquartered in Houston, Texas.

– Jiangsu Hengli Hydraulic Co Ltd ($SHSE:601100)

Jiangsu Hengli Hydraulic Co., Ltd. is a leading manufacturer of hydraulic components and systems in China. The company has a market cap of 65.41 billion and a return on equity of 17.4%. Hengli Hydraulic is a leading provider of hydraulic components and systems for a wide range of applications, including construction, mining, agriculture, forestry, and marine. The company’s products are used in a variety of industries, including construction, mining, agriculture, forestry, and marine. Hengli Hydraulic has a strong research and development capability and is committed to providing innovative products and solutions to meet the needs of its customers.

– KAP AG ($LTS:0EWJ)

SAP AG is a German multinational software corporation that makes enterprise software to manage business operations and customer relations. The company has a market cap of 117.68M and a ROE of 13.64%. SAP is headquartered in Walldorf, Baden-Württemberg, with regional offices in 130 countries. The company offers a wide range of enterprise software solutions, including customer relationship management (CRM), enterprise resource planning (ERP), product lifecycle management (PLM), and supplier relationship management (SRM) applications.

Summary

NN, a company engaged in the production of automotive electrical wiring, recently announced a $10M new business win. This is a major win for the firm and investors should take note of the potential implications moving forward. Analysts suggest that the new business win could help to drive further growth and profitability for NN in the near future, as well as providing greater financial stability.

Furthermore, the new business could lead to new opportunities in related fields, providing a more diverse income stream for the company. All in all, this new business deal appears to be very positive news for NN and its investors.