Navios Maritime Midstream Partners (NAP) was trading at around $13.40 as TradeWinds went to press, down from a $15 pricing that fell well below the $19 to $21 target range. It found a new low of $12.19 this week before firming slightly.

This came as an analyst who watches MLPs closely, Michael Webber of Wells Fargo Securities, downgraded the companies in his coverage to “hold” from “buy”.