Navios Maritime Partners LP (NMM) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 2,694,887 to 2,225,704 shares, with 6 days to go before the expiry. The short open interest has decreased by -17.4%, amounting to a reduction of -469,183 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 3.3% of the float of the company. The average daily volume of the stock is 368,130 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Navios Maritime Partners LP (NYSE:NMM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.50 and $1.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.60. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.53, notching a gain of 0.66% for the day. The total traded volume was 339,950 . The stock had closed at $1.52 on the previous day.
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.