NEW YORK (TheStreet) -- Shares of Navios Maritime Acquisition (NNA) were falling 5.06% to $1.50 on heavy trading volume late Thursday afternoon after the company posted lower-than-anticipated earnings for the 2016 second quarter.
Before today's market open, the Monaco-based owner and operator of tanker vessels posted earnings of 8 cents per share, below analysts' expectations of 10 cents per share.
Revenue came in at $74.5 million for the period, while analysts were estimating revenue of $74.4 million.
Evercore ISI downgraded the stock to "hold" from "buy" following the results, the Fly reports.
About 1.01 million of the company's shares traded so far today, above its average volume of 591,393 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and attractive valuation levels.
But the team also finds weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: NNA