Navios Maritime Partners (NYSE:NMM) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.06 and traded as high as $46.10. Navios Maritime Partners shares last traded at $45.99, with a volume of 155,157 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Navios Maritime Partners in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Navios Maritime Partners presently has an average rating of "Hold".

Navios Maritime Partners Stock Up 2.2%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 4.59 and a beta of 1.54. The stock has a 50 day moving average of $46.34 and a 200 day moving average of $41.06.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its earnings results on Thursday, August 21st. The shipping company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.41. Navios Maritime Partners had a return on equity of 9.24% and a net margin of 23.31%.The company had revenue of $327.56 million for the quarter, compared to the consensus estimate of $309.58 million. During the same quarter last year, the business posted $3.06 EPS. Navios Maritime Partners's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts expect that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Institutional Trading of Navios Maritime Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP bought a new position in shares of Navios Maritime Partners in the 2nd quarter worth about $47,000. TD Waterhouse Canada Inc. acquired a new stake in Navios Maritime Partners during the second quarter worth about $62,000. State of Wyoming bought a new position in Navios Maritime Partners in the first quarter worth about $157,000. Cerity Partners LLC bought a new position in Navios Maritime Partners in the second quarter worth about $212,000. Finally, Aristides Capital LLC acquired a new position in Navios Maritime Partners in the second quarter valued at approximately $228,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.

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