ValuEngine Upgrades Navios Maritime Acquisition (NYSE:NNA) to Strong-Buy

Navios Maritime Acquisition (NYSE:NNA) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Thursday, ValuEngine reports.

NYSE NNA traded down $0.11 during trading hours on Thursday, hitting $6.82. 260,425 shares of the company were exchanged, compared to its average volume of 92,659. The company has a 50 day moving average of $7.93 and a two-hundred day moving average of $6.93. The company has a quick ratio of 1.00, a current 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 $11.52. The firm has a market cap of $87.52 million, a price-to-earnings ratio of -0.90 and a beta of 2.35.

Navios Maritime Acquisition (NYSE:NNA) last issued its quarterly earnings results on Thursday, November 7th. The shipping company reported ($3.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($3.15). Navios Maritime Acquisition had a negative return on equity of 14.23% and a negative net margin of 23.53%. The company had revenue of $53.59 million for the quarter. On average, equities research analysts predict that Navios Maritime Acquisition will post -0.99 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Navios Maritime Acquisition in the 2nd quarter valued at about $98,000. JPMorgan Chase & Co. boosted its position in shares of Navios Maritime Acquisition by 202.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 24,097 shares of the shipping company’s stock valued at $154,000 after purchasing an additional 16,122 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Navios Maritime Acquisition by 123.2% in the 2nd quarter. Renaissance Technologies LLC now owns 84,780 shares of the shipping company’s stock valued at $534,000 after purchasing an additional 46,795 shares during the period. Institutional investors and hedge funds own 6.23% of the company’s stock.

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

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