Navios Maritime Acquisition Co. (NYSE:NNA) shares dropped 3.9% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $0.72 and last traded at $0.73. Approximately 688,206 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 810,482 shares. The stock had previously closed at $0.76.

The shipping company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Navios Maritime Acquisition had a negative net margin of 19.94% and a positive return on equity of 2.08%. The business had revenue of $44.20 million for the quarter, compared to analysts’ expectations of $53.63 million.

Navios Maritime Acquisition announced that its board has approved a stock buyback plan on Wednesday, February 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the shipping company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

NNA has been the subject of several research reports. Zacks Investment Research raised shares of Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Navios Maritime Acquisition in a research report on Friday, January 19th. Stifel Nicolaus set a $2.00 target price on shares of Navios Maritime Acquisition and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, ValuEngine lowered shares of Navios Maritime Acquisition from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Navios Maritime Acquisition has an average rating of “Hold” and a consensus target price of $1.63.

A number of institutional investors have recently added to or reduced their stakes in NNA. Northern Trust Corp increased its holdings in Navios Maritime Acquisition by 124.4% in the 2nd quarter. Northern Trust Corp now owns 2,315,549 shares of the shipping company’s stock worth $3,404,000 after acquiring an additional 1,283,455 shares in the last quarter. Stifel Financial Corp increased its holdings in Navios Maritime Acquisition by 53.6% in the 2nd quarter. Stifel Financial Corp now owns 1,119,934 shares of the shipping company’s stock worth $1,638,000 after acquiring an additional 390,870 shares in the last quarter. California Public Employees Retirement System increased its holdings in Navios Maritime Acquisition by 71.3% in the 3rd quarter. California Public Employees Retirement System now owns 286,854 shares of the shipping company’s stock worth $350,000 after acquiring an additional 119,354 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Navios Maritime Acquisition in the 3rd quarter worth approximately $124,000. Finally, Hosking Partners LLP increased its holdings in Navios Maritime Acquisition by 7.7% in the 4th quarter. Hosking Partners LLP now owns 1,350,945 shares of the shipping company’s stock worth $1,500,000 after acquiring an additional 96,166 shares in the last quarter. 19.07% of the stock is owned by institutional investors.

The company has a market cap of $124.78, a price-to-earnings ratio of -2.26 and a beta of 1.15. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.92 and a quick ratio of 0.92.

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About Navios Maritime Acquisition

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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