Jefferies took its Navios Maritime Partners [NMM] rating to the equivalent of Buy from Hold, and the price target to $15.0 from $7.50, in a research note dated 2021-01-08. That figure represents around a 37.99% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with JP Morgan’s analysts upgrading the shares from “a Neutral” rating to “an Overweight” rating in a research note to investors issued in mid October. Meanwhile, JP Morgan had lowered its rating on NMM to “Neutral” from the earlier “an Overweight”, in a research note produced for clients January 17, 2018. In addition, there was a downgrade from Morgan Stanley on February 04, 2016. The rater changed NMM from “an Equal-weight” to “an Underweight”.
Is Navios Maritime Partners L.P. [NYSE:NMM] a Good Buy Right Now?
It should be noted that NMM technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 56% Buy in the past month. Data from Navios Maritime Partners L.P.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.15 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.13 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.1 million shares.
NMM Price Performance
On Wall Street, Navios Maritime Partners L.P. [NYSE:NMM] finished Thursday’s session up 6.54% at $10.92. The stock went up to $10.99 at the same session while its lowest single day price was $10.39. In the last five days, it saw a rise of about 11.89%, Navios Maritime Partners L.P. shares dropped by almost -2.50% since the beginning of the year. However, the share price has dropped to as low as -39.33% below its one year high. On 01/04/21, the company shares recorded $11.94, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $10.06. The company’s shares have declined by -37.31% in the past year. The 50-day SMA achieved is $8.10 while the 200-day SMA is $7.25. Volume gained to 0.2 million from 0.2 million in the previous session.
NMM Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 10.54 level, and in case of violation of this particular level, it will cause more drop to 10.17 level. On the upper level, 11.37 is still the key resistance. The stock may increase to the subsequent resistance at 11.14. The Relative Strength Index (RSI) pinned on the 14-day chart is 67.79, implying a neutral technical stance while the MACD stands at 0.69, meaning price will decrease in the next trading period. Percent R indicator moved to 32.08%, implying low price movement. Stochastic %K at 58.70% suggest selling the stock.
What is the short interest in Navios Maritime Partners L.P.?
Short interest in the Navios Maritime Partners L.P. stock has plunged, decreasing by 88420.0 shares to total 0.19 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.11 million, data from Yahoo Finance shows. The increase of 45.64% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.17% of the overall float for the stock.
Navios Maritime Partners L.P.’s Biggest Shareholders: Who Owns Navios Maritime Partners L.P. [NMM]?
Filings by Russell Investment Management LLC showed that the firm now holds a total of 74,554 shares or roughly 0.66% of the outstanding NMM shares. This means their shares have reduced by 0 from the 74,554 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Morgan Stanley Smith Barney LLC updated stake is worth $521,833. Details in the latest 13F filings reveal that Arrowstreet Capital LP disposed off their -13.38% stake valued at $404,966 while Alantra Wealth Management Gestión added theirs at $334,733. During the last quarter, Arrowstreet Capital LP liquidated -8,221 of its shares in Navios Maritime Partners L.P. while Alantra Wealth Management Gestión bought 30 shares. The First Fondene AS’s holdings currently number 33,193 shares at $362467.56. According to the firm’s last 13F report, Susquehanna Financial Group LLLP shares in the company at filing stood at 29,367 shares, roughly $223,483.
NMM Earnings Forecast For The Current Quarter
Navios Maritime Partners L.P. [NMM] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $71.35M and an earnings per share of $0.95 for Dec 2020. Looking further ahead, the company is expected to report EPS of $0.83 for Mar 2021. The estimates represent upside of 21.10% and 433.14% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
NMM Earnings Estimates For The Current Year
For the financial year, Navios Maritime Partners L.P. [NYSE:NMM] is expected to bring in revenue of $228.89M. The returns are nearly $9.51 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.7, lower than that of FY19 by -$1.73. Estimates put this year’s earnings growth at -71.20%, 431.40% for the next, and at an annual 33.08% over the next 5-year period. As for sales, forecasts are for an increase of 4.30% in the current fiscal year and a further 21.10% over the following year.