Zacks Investment Research upgraded shares of Navios Maritime Acquisition (NYSE:NNA) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $5.25 price target on the shipping company’s stock.
According to Zacks, “Navios Maritime Acquisition Corporation provides marine transportation services. It is an owner and operator of tanker vessels focusing in the transportation of petroleum products and bulk liquid chemicals. The company focuses on chartering its vessels to international oil companies, refiners, and vessel operators under long, medium, and short-term charters. Navios Maritime Acquisition Corporation is headquartered in Piraeus, Greece. “
Separately, ValuEngine raised shares of Navios Maritime Acquisition from a hold rating to a buy rating in a research report on Friday, November 16th.
Navios Maritime Acquisition (NYSE:NNA) last announced its earnings results on Tuesday, November 6th. The shipping company reported ($2.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.10) by ($0.15). The business had revenue of $32.03 million during the quarter, compared to the consensus estimate of $37.81 million. Navios Maritime Acquisition had a negative net margin of 45.63% and a negative return on equity of 17.33%. As a group, analysts anticipate that Navios Maritime Acquisition will post -7.8 earnings per share for the current year.
A hedge fund recently bought a new stake in Navios Maritime Acquisition stock. Paloma Partners Management Co purchased a new stake in Navios Maritime Acquisition Co. (NYSE:NNA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 401,899 shares of the shipping company’s stock, valued at approximately $245,000. Paloma Partners Management Co owned approximately 0.27% of Navios Maritime Acquisition as of its most recent SEC filing.
About Navios Maritime Acquisition
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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