Navios Maritime Holdings logoNavios Maritime Holdings Inc. was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, April 12th.

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. “

Separately, Credit Suisse Group AG reissued a “neutral” rating on shares of Navios Maritime Holdings in a research note on Wednesday, February 22nd.

Navios Maritime Holdings (NYSE:NM) opened at 1.70 on Wednesday. The stock has a 50 day moving average of $1.79 and a 200 day moving average of $1.62. Navios Maritime Holdings has a 12 month low of $0.57 and a 12 month high of $2.40. The firm’s market capitalization is $188.65 million.

Navios Maritime Holdings (NYSE:NM) last posted its quarterly earnings results on Wednesday, February 22nd. The shipping company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by $0.01. The business had revenue of $99.50 million for the quarter, compared to analysts’ expectations of $111.75 million. Navios Maritime Holdings had a negative return on equity of 8.83% and a negative net margin of 31.91%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the business posted ($0.30) earnings per share. On average, equities analysts predict that Navios Maritime Holdings will post ($0.94) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Raging Capital Management LLC purchased a new position in shares of Navios Maritime Holdings during the fourth quarter valued at approximately $1,076,000. Advisor Group Inc. increased its position in shares of Navios Maritime Holdings by 10.1% in the third quarter. Advisor Group Inc. now owns 1,220,777 shares of the shipping company’s stock valued at $1,476,000 after buying an additional 111,748 shares during the last quarter. Horseman Capital Management Ltd purchased a new position in shares of Navios Maritime Holdings during the first quarter valued at approximately $1,834,000. Royce & Associates LP increased its position in shares of Navios Maritime Holdings by 18.0% in the fourth quarter. Royce & Associates LP now owns 1,623,449 shares of the shipping company’s stock valued at $2,289,000 after buying an additional 247,100 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Navios Maritime Holdings by 37.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,748,802 shares of the shipping company’s stock valued at $2,466,000 after buying an additional 475,200 shares during the last quarter. 11.31% of the stock is currently owned by institutional investors.

Source: Zacks