Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.68 and traded as high as $7.70. Pangaea Logistics Solutions shares last traded at $7.68, with a volume of 345,760 shares trading hands.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average price is $7.68 and its 200-day moving average price is $7.64. The company has a market capitalization of $502.43 million, a price-to-earnings ratio of 13.96 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The business had revenue of $170.58 million during the quarter, compared to analyst estimates of $165.79 million. Equities research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 1st. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in PANL. LOM Asset Management Ltd bought a new stake in shares of Pangaea Logistics Solutions during the fourth quarter worth $34,000. BNP Paribas Financial Markets boosted its holdings in 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 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 in the fourth quarter worth about $53,000. Tower Research Capital LLC TRC increased its position in Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after purchasing an additional 4,825 shares during the period. Finally, Algert Global LLC bought a new stake in Pangaea Logistics Solutions during the 3rd quarter worth about $53,000. Institutional investors own 60.23% of the company’s stock.

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.