Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Sees Significant Increase in Short Interest

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 475,234 shares, a growth of 26.4% from the December 31st total of 375,908 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 319,861 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 319,861 shares, the short-interest ratio is currently 1.5 days. Approximately 0.9% of the company’s shares are short sold.

Pangaea Logistics Solutions Trading Down 1.7%

PANL stock traded down $0.15 during trading on Tuesday, hitting $8.65. The company had a trading volume of 541,581 shares, compared to its average volume of 739,198. Pangaea Logistics Solutions has a 52-week low of $3.93 and a 52-week high of $9.17. The company has a 50 day simple moving average of $7.24 and a 200-day simple moving average of $5.98. The firm has a market capitalization of $561.99 million, a P/E ratio of 28.83 and a beta of 0.79. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. Pangaea Logistics Solutions had a net margin of 2.67% and a return on equity of 3.26%. The business had revenue of $168.67 million for the quarter, compared to the consensus estimate of $159.32 million. As a group, research analysts forecast that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Monday, December 1st. B. Riley reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Zacks Research lowered shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Epoch Investment Partners Inc. bought a new stake in shares of Pangaea Logistics Solutions in the second quarter valued at about $732,000. J.W. Cole Advisors Inc. purchased a new position in Pangaea Logistics Solutions during the 2nd quarter valued at about $65,000. Creative Planning increased its position in Pangaea Logistics Solutions by 94.2% during the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 11,204 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Pangaea Logistics Solutions by 6.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after purchasing an additional 14,357 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pangaea Logistics Solutions by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after purchasing an additional 3,344 shares during the period. Institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.