Navios Maritime Partners $NMM stock has confirmed a Symmetrical TriangleThe symmetrical triangle pattern is one of the most popular chart patterns in the world of technical analysis. This pattern is a result of the convergence of two lines that form a ... breakout on February 2, 2023. The green shaded area on the chart below is the expected target range after the breakout. The stock is in a technical weak uptrend.
Navios Maritime Partners remains one of the most undervalued shipping companies by a significant margin, and perhaps one of the most undervalued companies in the market.
The company’s cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves... from operations is hovering around all-time highs, exceeding $200 million for FY 2021 and is poised to surpass the $500 million mark for FY 2022. The news gets even better for the years ahead as a significant component of revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... and, consequently, cash from operations is locked in for several years, thanks to the booming containership market over the past two years, which enabled NMM to lock in its 47 containerships on highly lucrative multi-year contracts.
The company has locked in $3.2 billion in contracted revenue, of which approximately $2.3 billion is attributed to containerships. The remaining balance of approximately $663 million in backlog relates to tankers and approximately $226 million relates to the dry bulk fleet.
