Wall Street Zen Downgrades Pangaea Logistics Solutions (NASDAQ:PANL) to Hold

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently commented on PANL. Zacks Research downgraded Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. B. Riley Financial reissued a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pangaea Logistics Solutions has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Price Performance

NASDAQ PANL opened at $6.83 on Friday. Pangaea Logistics Solutions has a 1 year low of $3.93 and a 1 year high of $9.39. The business’s fifty day moving average is $8.12 and its two-hundred day moving average is $6.69. The stock has a market capitalization of $443.75 million, a P/E ratio of 22.03 and a beta of 0.77. 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 (NASDAQ:PANL) last released its quarterly earnings data on Tuesday, March 10th. The shipping company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $183.88 million for the quarter, compared to the consensus estimate of $181.75 million. Pangaea Logistics Solutions had a return on equity of 3.82% and a net margin of 3.06%. On average, research analysts forecast that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently made changes to their positions in PANL. Millennium Management LLC grew its position in Pangaea Logistics Solutions by 1,846.9% during the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after purchasing an additional 416,439 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Pangaea Logistics Solutions in the 2nd quarter valued at approximately $732,000. Goldman Sachs Group Inc. lifted its position in Pangaea Logistics Solutions by 44.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 373,734 shares of the shipping company’s stock worth $2,571,000 after buying an additional 115,257 shares in the last quarter. Numerai GP LLC purchased a new stake in Pangaea Logistics Solutions in the 4th quarter worth approximately $751,000. Finally, First Trust Advisors LP acquired a new stake in shares of Pangaea Logistics Solutions during the 3rd quarter valued at $532,000. 60.23% of the stock is owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

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.