ValuEngine Downgrades Navios Maritime Acquisition (NYSE:NNA) to Hold

Navios Maritime Acquisition (NYSE:NNA) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Shares of Navios Maritime Acquisition stock traded down $0.28 on Wednesday, hitting $6.68. 148,883 shares of the company traded hands, compared to its average volume of 51,447. The stock’s 50 day moving average price is $6.37 and its 200-day moving average price is $6.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.07. Navios Maritime Acquisition has a 52 week low of $2.90 and a 52 week high of $8.62. The company has a market cap of $91.23 million, a PE ratio of -0.88 and a beta of 2.39.

Navios Maritime Acquisition (NYSE:NNA) last posted its quarterly earnings results on Wednesday, August 21st. The shipping company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.58). Navios Maritime Acquisition had a negative net margin of 23.53% and a negative return on equity of 14.23%. The company had revenue of $54.39 million for the quarter. As a group, research analysts anticipate that Navios Maritime Acquisition will post -0.99 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of NNA. Renaissance Technologies LLC increased its holdings in Navios Maritime Acquisition by 123.2% during the second quarter. Renaissance Technologies LLC now owns 84,780 shares of the shipping company’s stock valued at $534,000 after buying an additional 46,795 shares during the period. JPMorgan Chase & Co. increased its holdings in Navios Maritime Acquisition by 202.2% during the second quarter. JPMorgan Chase & Co. now owns 24,097 shares of the shipping company’s stock valued at $154,000 after buying an additional 16,122 shares during the period. Finally, BlackRock Inc. purchased a new position in Navios Maritime Acquisition during the second quarter valued at approximately $98,000. 6.23% of the stock is currently owned by institutional investors.

Navios Maritime Acquisition Company Profile

Navios Maritime Acquisition Corporation provides marine transportation services worldwide. The company owns a fleet of crude oil, refined petroleum product, and chemical tankers. It charters its vessels to oil companies, refiners, and large vessel operators under long, medium, and short term charters.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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