B. Riley Lowers Pangaea Logistics Solutions (NASDAQ:PANL) Price Target to $9.00

Pangaea Logistics Solutions (NASDAQ:PANL) had its target price decreased by B. Riley from $11.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. B. Riley’s price objective suggests a potential upside of 78.93% from the stock’s current price.

Separately, Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 18th.

Pangaea Logistics Solutions Trading Up 3.5%

NASDAQ:PANL opened at $5.03 on Monday. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $7.49. The firm has a 50 day moving average of $4.91 and a 200 day moving average of $4.79. The company has a quick ratio of 1.28, a current ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $328.16 million, a price-to-earnings ratio of 22.86 and a beta of 0.77.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, August 7th. The shipping company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%. The firm had revenue of $156.69 million for the quarter, compared to the consensus estimate of $129.24 million. As a group, sell-side analysts anticipate that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PANL. 683 Capital Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the 4th quarter valued at $3,254,000. Royce & Associates LP boosted its stake in shares of Pangaea Logistics Solutions by 21.5% during the 1st quarter. Royce & Associates LP now owns 1,166,677 shares of the shipping company’s stock worth $5,553,000 after acquiring an additional 206,575 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Pangaea Logistics Solutions during the 1st quarter valued at about $539,000. Dimensional Fund Advisors LP increased its stake in shares of Pangaea Logistics Solutions by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company’s stock valued at $11,044,000 after purchasing an additional 105,965 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Pangaea Logistics Solutions by 7.1% during the fourth quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company’s stock worth $8,559,000 after purchasing an additional 105,200 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.