Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.65 and traded as low as $6.50. Pangaea Logistics Solutions shares last traded at $6.52, with a volume of 517,775 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PANL shares. Weiss Ratings cut shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Trading Up 0.3%

The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $7.65. The firm has a market capitalization of $426.54 million, a P/E ratio of 11.85 and a beta of 0.80.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.78 million. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%. On average, equities research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.1%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 36.36%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. LOM Asset Management Ltd purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth about $34,000. BNP Paribas Financial Markets boosted its position in shares of Pangaea Logistics Solutions by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 2,864 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Pangaea Logistics Solutions during the fourth quarter worth $53,000. Tower Research Capital LLC TRC lifted its holdings in shares of Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,825 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Pangaea Logistics Solutions during the third quarter worth $53,000. 60.23% of the stock is owned by institutional investors and hedge funds.

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.