NN, Inc. (NNBR) Reports Processing of its CARES Act Refund of >$10 million

NN, Inc. (NASDAQ:NNBR) is one of the top 10 hot penny stocks to buy now. NN, Inc. (NASDAQ:NNBR) announced on April 30 that it has been notified that its CARES Act refund of >$10 million has been processed for payment. Chief Executive Officer of NN, Inc., Harold Bevis, stated that the company is growing at a “historically high rate” because of the success of its growth programs and strength in certain markets. Bevis added that NN, Inc. (NASDAQ:NNBR) borrowed $10 million in Q1 2026 to fund certain growth areas with both capital equipment and working capital, adding that this US tax refund will more than offset that borrowing, offering the company more room to grow.

NN, Inc. (NASDAQ:NNBR) stated that the above information is based on information received from the IRS, and that the company is finalizing its financial results for the quarter ended March 31, 2026, and will update its financial outlook on May 6, 2026.

NN, Inc. (NASDAQ:NNBR) is involved in the design and manufacture of high-precision components and assemblies primarily for the electrical, automotive, general industrial, aerospace and defense, and medical markets. The company’s operations are divided into the Mobile Solutions and Power Solutions segments.

While we acknowledge the potential of NNBR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.