Navios Maritime (NYSE:NM) Trading Up 11.5%

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Navios Maritime Holdings Inc. (NYSE:NM)’s stock price was up 11.5% on Wednesday . The stock traded as high as $6.29 and last traded at $6.12, approximately 270,067 shares were traded during mid-day trading. An increase of 59% from the average daily volume of 169,782 shares. The stock had previously closed at $5.49.

Separately, ValuEngine upgraded shares of Navios Maritime from a “hold” rating to a “buy” rating in a research note on Monday.

The company’s 50 day moving average price is $5.03 and its two-hundred day moving average price is $4.64. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 4.23.

Navios Maritime (NYSE:NM) last issued its quarterly earnings data on Thursday, September 5th. The shipping company reported ($0.54) earnings per share for the quarter. Navios Maritime had a negative return on equity of 9.13% and a negative net margin of 41.09%. The business had revenue of $147.19 million during the quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in Navios Maritime by 49.3% during the 2nd quarter. Renaissance Technologies LLC now owns 589,944 shares of the shipping company’s stock worth $2,643,000 after acquiring an additional 194,751 shares during the period. Nut Tree Capital Management LP raised its stake in Navios Maritime by 28.0% during the 2nd quarter. Nut Tree Capital Management LP now owns 379,616 shares of the shipping company’s stock worth $1,701,000 after acquiring an additional 83,029 shares during the period. Finally, Advisor Group Inc. raised its stake in Navios Maritime by 43.5% during the 2nd quarter. Advisor Group Inc. now owns 134,475 shares of the shipping company’s stock worth $602,000 after acquiring an additional 40,775 shares during the period. Institutional investors own 13.63% of the company’s stock.

About Navios Maritime (NYSE:NM)

Navios Maritime Holdings Inc operates as a seaborne shipping and logistics company in North America, Europe, Asia, South America, and internationally. The company focuses on the transportation and transshipment of dry bulk commodities, including iron ores, coal, and grains. It operates through three segments: Dry Bulk Vessel Operations, Logistics Business, and Containers Business.

See Also: Cost of equity and a company’s balance sheet

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