Navios Maritime Partners L.P. (NYSE:NMM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday. The firm currently has a $2.50 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 25.63% from the company’s previous close.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

Separately, Jefferies Group restated a “buy” rating on shares of Navios Maritime Partners L.P. in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.44.

Analyst Recommendations for Navios Maritime Partners L.P. (NYSE:NMM)

Navios Maritime Partners L.P. (NYSE:NMM) opened at 1.99 on Wednesday. The firm has a 50-day moving average of $1.38 and a 200 day moving average of $1.41. Navios Maritime Partners L.P. has a 52-week low of $0.79 and a 52-week high of $4.40. The company has a market cap of $168.70 million, a PE ratio of 56.86 and a beta of 1.74.

Navios Maritime Partners L.P. (NYSE:NMM) last posted its quarterly earnings results on Monday, November 14th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06. The business had revenue of $50.30 million for the quarter, compared to the consensus estimate of $46.96 million. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Equities research analysts expect that Navios Maritime Partners L.P. will post $0.05 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris Inc. boosted its position in Navios Maritime Partners L.P. by 1.5% in the second quarter. Sanders Morris Harris Inc. now owns 133,650 shares of the company’s stock valued at $172,000 after buying an additional 2,000 shares during the period. Stifel Financial Corp boosted its position in Navios Maritime Partners L.P. by 2.5% in the second quarter. Stifel Financial Corp now owns 265,627 shares of the company’s stock valued at $344,000 after buying an additional 6,448 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Navios Maritime Partners L.P. by 29.6% in the third quarter. JPMorgan Chase & Co. now owns 559,225 shares of the company’s stock valued at $777,000 after buying an additional 127,684 shares during the period.

About Navios Maritime Partners L.P.

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

5 Day Chart for NYSE:NMM

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