Navios Maritime (NM) Shares Down 6%

Navios Maritime Holdings Inc. (NYSE:NM) dropped 6% during trading on Wednesday . The company traded as low as $1.24 and last traded at $1.25. Approximately 861,907 shares traded hands during trading, a decline of 3% from the average daily volume of 891,664 shares. The stock had previously closed at $1.33.

A number of research analysts have issued reports on NM shares. Zacks Investment Research raised Navios Maritime from a “sell” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine downgraded Navios Maritime from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Clarkson Capital downgraded Navios Maritime from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Navios Maritime has an average rating of “Hold” and an average target price of $1.63.

The company has a debt-to-equity ratio of 2.32, a current ratio of 1.02 and a quick ratio of 0.91.

Navios Maritime (NYSE:NM) last announced its quarterly earnings results on Tuesday, November 21st. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.04). The company had revenue of $120.60 million during the quarter, compared to analyst estimates of $138.00 million. Navios Maritime had a negative net margin of 21.39% and a negative return on equity of 17.18%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) earnings per share. equities analysts predict that Navios Maritime Holdings Inc. will post -1.1 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Apriem Advisors increased its position in shares of Navios Maritime by 53.8% in the third quarter. Apriem Advisors now owns 100,000 shares of the shipping company’s stock valued at $167,000 after buying an additional 35,000 shares in the last quarter. Royce & Associates LP increased its position in shares of Navios Maritime by 7.2% in the third quarter. Royce & Associates LP now owns 1,721,349 shares of the shipping company’s stock valued at $2,875,000 after buying an additional 115,000 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Navios Maritime in the third quarter valued at approximately $344,000. California State Teachers Retirement System purchased a new stake in shares of Navios Maritime in the second quarter valued at approximately $218,000. Finally, State Street Corp increased its position in shares of Navios Maritime by 2,467.0% in the second quarter. State Street Corp now owns 1,012,873 shares of the shipping company’s stock valued at $1,388,000 after buying an additional 973,416 shares in the last quarter. Institutional investors and hedge funds own 19.87% of the company’s stock.

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About Navios Maritime

Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.

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