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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the recipient of a significant growth in short interest in January. As of January 30th, there was short interest totaling 699,417 shares, a growth of 47.2% from the January 15th total of 475,234 shares. Based on an average daily volume of 1,116,621 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.3% of the company’s stock are sold short. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 1,116,621 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ PANL opened at $8.48 on Friday. The business’s 50-day simple moving average is $7.48 and its 200-day simple moving average is $6.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.62. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $9.17. The firm has a market cap of $550.95 million, a price-to-earnings ratio of 28.27 and a beta of 0.79.

Institutional Trading of Pangaea Logistics Solutions

Several large investors have recently modified their holdings of PANL. First Trust Advisors LP grew its stake in Pangaea Logistics Solutions by 2.1% in the 4th quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock valued at $735,000 after buying an additional 2,159 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Pangaea Logistics Solutions by 7.0% during the third quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock valued at $178,000 after acquiring an additional 2,300 shares during the period. Lakewood Asset Management LLC grew its position in shares of Pangaea Logistics Solutions by 7.3% in the fourth quarter. Lakewood Asset Management LLC now owns 39,542 shares of the shipping company’s stock valued at $272,000 after purchasing an additional 2,705 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Pangaea Logistics Solutions by 18.6% in the first 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. 60.23% of the stock is owned by institutional investors.

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.