Shares of Navios Maritime Acquisition Co. (NYSE:NNA) are going to reverse split before the market opens on Wednesday, November 14th. The 1-15 reverse split was announced on Friday, November 9th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, November 13th.
Shares of Navios Maritime Acquisition stock opened at $0.46 on Friday. The company has a market cap of $76.42 million, a PE ratio of -3.83 and a beta of 1.15. Navios Maritime Acquisition has a 1-year low of $0.35 and a 1-year high of $1.37. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.05 and a current ratio of 1.05.
Navios Maritime Acquisition (NYSE:NNA) last issued its earnings results on Tuesday, November 6th. The shipping company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $32.03 million for the quarter, compared to analyst estimates of $37.81 million. Navios Maritime Acquisition had a negative return on equity of 17.33% and a negative net margin of 45.63%. As a group, analysts expect that Navios Maritime Acquisition will post -0.52 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on NNA. Zacks Investment Research cut Navios Maritime Acquisition from a “hold” rating to a “sell” rating in a report on Friday, August 31st. ValuEngine upgraded Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd.
Institutional investors have recently modified their holdings of the company. Paloma Partners Management Co acquired a new position in shares of Navios Maritime Acquisition during the 2nd quarter worth approximately $245,000. Millennium Management LLC acquired a new position in Navios Maritime Acquisition in the second quarter valued at approximately $853,000. Finally, LMR Partners LLP acquired a new position in Navios Maritime Acquisition in the second quarter valued at approximately $141,000. Institutional investors and hedge funds own 14.24% of the company’s stock.
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About Navios Maritime Acquisition
Navios Maritime Acquisition Corporation provides marine transportation services worldwide. The company owns a fleet of crude oil, refined petroleum product, and chemical tankers. It charters its vessels to oil companies, refiners, and large vessel operators under long, medium, and short term charters.
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