Navios Maritime (NYSE:NM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: Drybulk Vessel Operations, Tanker Vessel Operations and Logistics Business. The Company also engages in operating ports and transfer station terminals and handles vessels, barges, and push boats, as well as operates upriver transport facilities in the Hidrovia region. Navios Maritime Holdings Inc. is headquartered in Piraeus, Greece. “

Several other research firms have also recently weighed in on NM. ValuEngine raised shares of Navios Maritime from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Clarkson Capital cut shares of Navios Maritime from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $1.63.

Navios Maritime (NM) traded up $0.04 on Wednesday, reaching $1.38. 544,300 shares of the company traded hands, compared to its average volume of 896,474. Navios Maritime has a 52 week low of $0.95 and a 52 week high of $2.26. 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 posted its earnings results on Tuesday, November 21st. The shipping company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.04). The company had revenue of $120.60 million for the quarter, compared to analysts’ expectations of $138.00 million. Navios Maritime had a negative net margin of 21.39% and a negative return on equity of 17.18%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) earnings per share. research analysts predict that Navios Maritime will post -1.1 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in NM. State Street Corp lifted its holdings in shares of Navios Maritime by 2,467.0% in the 2nd quarter. State Street Corp now owns 1,012,873 shares of the shipping company’s stock worth $1,388,000 after acquiring an additional 973,416 shares during the last quarter. Northern Trust Corp bought a new stake in shares of Navios Maritime in the 2nd quarter worth about $1,065,000. Goldman Sachs Group Inc. lifted its holdings in shares of Navios Maritime by 254.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 858,152 shares of the shipping company’s stock worth $1,605,000 after acquiring an additional 615,981 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Navios Maritime in the 2nd quarter worth about $341,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Navios Maritime in the 2nd quarter worth about $335,000. Hedge funds and other institutional investors own 19.87% of the company’s stock.

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Navios Maritime Company Profile

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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