UPDATE: Global Hunter Securities Starts Navios Maritime Acquisition Corp. (NNA) at Neutral; Waiting for Better Entry Point

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(Updated - September 13, 2012 9:05 AM EDT)

Global Hunter Securities initiates coverage on Navios Maritime Acquisition Corp. (NYSE: NNA) with a Neutral.

Analyst, Natasha Boyden, said, "Navios Maritime Acquisition Corp has a highly modern product tanker fleet with a focus on long-term charter agreements. To help support its newbuild program and growth in the product tanker space, NNA also owns seven VLCCs with attractive long-term charters at rates well above the current market. However, at 8.6x EV/2013E EBITDA and a price/NAV of 1.16x, we believe the stock is currently fairly valued."

For an analyst ratings summary and ratings history on Navios Maritime Acquisition Corp. click here. For more ratings news on Navios Maritime Acquisition Corp. click here.

Shares of Navios Maritime Acquisition Corp. closed at $2.94 yesterday, with a 52 week range of $2.25-$3.74.

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