Navios Maritime Partners LP (NMM) : Traders are bullish on Navios Maritime Partners LP (NMM) as it has outperformed the S&P 500 by a wide margin of 14.31% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.13%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.19% in the last 1 week, and is up 15.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 10.81% and the 50-Day Moving Average is 17.48%. Navios Maritime Partners LP (NYSE:NMM): stock turned positive on Friday. Though the stock opened at $1.55, the bulls momentum made the stock top out at $1.67 level for the day. The stock recorded a low of $1.55 and closed the trading day at $1.64, in the green by 5.13%. The total traded volume for the day was 567,843. The stock had closed at $1.56 in the previous days trading.
Institutional Investors own 8.78% of Navios Maritime Partners LP shares.
Navios Maritime Partners L.P. (Navios Partners) is an international owner and operator of dry bulk and container vessels formed by Navios Holdings, which is a vertically integrated seaborne shipping company. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain, fertilizer and also containers, chartering its vessels under medium to long-term charters. The operations of Navios Partners are managed by Navios ShipManagement Inc., which is a subsidiary of Navios Holdings (the Manager), from its offices in Piraeus, Greece, Singapore and Monaco. The Companys vessels are chartered-out under medium to long-term time charters with an average remaining term of approximately three years to a group, including Cosco Bulk Carrier Co. Ltd., Mitsui O.S.K. Lines Ltd., Exelon Corporation, Rio Tinto, Hyundai Merchant Marine Co., Ltd and Mediterranean Shipping Co. S.A.