Navios Maritime Acquisition Corporation (NNA) Upgraded at Zacks Investment Research

Navios Maritime Acquisition Corporation (NYSE:NNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, October 18th.

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. “

NNA has been the subject of several other research reports. Citigroup Inc. lowered shares of Navios Maritime Acquisition Corporation from a “buy” rating to a “neutral” rating and set a $1.25 target price for the company. in a report on Friday, August 11th. Stifel Nicolaus reiterated a “buy” rating and set a $2.25 price objective (up previously from $2.00) on shares of Navios Maritime Acquisition Corporation in a report on Friday, August 11th. TheStreet lowered shares of Navios Maritime Acquisition Corporation from a “c” rating to a “d+” rating in a report on Thursday, August 10th. Finally, ValuEngine lowered shares of Navios Maritime Acquisition Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Navios Maritime Acquisition Corporation presently has an average rating of “Hold” and an average target price of $1.75.

Shares of Navios Maritime Acquisition Corporation (NYSE NNA) traded up 3.28% during midday trading on Wednesday, hitting $1.26. The company had a trading volume of 341,641 shares. The company’s market capitalization is $189.51 million. The company’s 50-day moving average price is $1.25 and its 200 day moving average price is $1.41. Navios Maritime Acquisition Corporation has a 12-month low of $1.08 and a 12-month high of $2.11.

Navios Maritime Acquisition Corporation (NYSE:NNA) last released its earnings results on Thursday, August 10th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The firm had revenue of $52.87 million during the quarter, compared to the consensus estimate of $53.00 million. Navios Maritime Acquisition Corporation had a positive return on equity of 5.05% and a negative net margin of 12.34%. Equities research analysts predict that Navios Maritime Acquisition Corporation will post ($0.06) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Navios Maritime Acquisition Corporation by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 228,238 shares of the shipping company’s stock valued at $335,000 after purchasing an additional 1,199 shares during the period. Vanguard Group Inc. increased its position in Navios Maritime Acquisition Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 164,307 shares of the shipping company’s stock valued at $242,000 after purchasing an additional 3,730 shares during the period. Parametric Portfolio Associates LLC increased its position in Navios Maritime Acquisition Corporation by 1.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 764,666 shares of the shipping company’s stock valued at $1,315,000 after purchasing an additional 7,229 shares during the period. Teachers Advisors LLC increased its position in Navios Maritime Acquisition Corporation by 12.2% during the 2nd quarter. Teachers Advisors LLC now owns 165,077 shares of the shipping company’s stock valued at $243,000 after purchasing an additional 17,971 shares during the period. Finally, California Public Employees Retirement System increased its position in Navios Maritime Acquisition Corporation by 13.2% during the 2nd quarter. California Public Employees Retirement System now owns 167,500 shares of the shipping company’s stock valued at $246,000 after purchasing an additional 19,500 shares during the period. 18.82% of the stock is currently owned by institutional investors and hedge funds.

About Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation is an international shipping company. The Company owns a fleet of modern crude oil, refined petroleum product and chemical tankers providing marine transportation services around the world. The Company charters its vessels to international oil companies, refiners and vessel operators under long, medium and short-term charters.

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