Evercore ISI Group Downgrades Navios Maritime Acquisition Corporation to Hold with Price Target $1.50

Brokerage firm Evercore ISI Group Downgrades its rating on Navios Maritime Acquisition Corporation(NYSE:NNA). In a research note issued to the investors, the brokerage major Lowers the price-target to $1.50 per share. The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Evercore ISI Group was issued on Aug 18, 2016.

In a different note, On Jul 18, 2016, Citigroup said it Maintains its rating on Navios Maritime Acquisition Corporation. In the research note, the firm Lowers the price-target to $3.00 per share. The shares have been rated ‘Buy’ by the firm.

Navios Maritime Acquisition Corporation (NNA) shares turned negative on Mondays trading session with the shares closing down -0.02 points or -1.36% at a volume of 7,17,420. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.49. The peak price level was also seen at $1.49 while the days lowest was $1.45. Finally the shares closed at $1.45. The 52-week high of the shares is $3.95 while the 52-week low is $1.41. According to the latest information available, the market cap of the company is $219 M.

Navios Maritime Acquisition Corporation(NNA) last announced its earnings results on Aug 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $74.50M. Analysts had an estimated revenue of $74.42M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.10.

Navios Maritime Acquisition Corporation is a Monaco-based company that owns a fleet of crude oil refined petroleum product and chemical tankers providing marine transportation services across the world. The Company’s strategy is to charter its vessels to international oil companies refiners and large vessel operators under long medium and short-term charters. The operations of the Company are managed by Navios Maritime Holdings Inc. The Company’s fleet consists of a total of approximately 39 double-hulled tanker vessels aggregating approximately 4.1 million deadweight tons (dwt).

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