Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Lowered by Wall Street Zen

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

A number of other research analysts have also recently commented on PANL. B. Riley reduced their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, November 17th. Finally, Zacks Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Pangaea Logistics Solutions has an average rating of “Buy” and a consensus target price of $9.00.

Pangaea Logistics Solutions Trading Up 4.6%

Shares of PANL opened at $6.80 on Friday. Pangaea Logistics Solutions has a 1-year low of $3.93 and a 1-year high of $7.00. The company has a market capitalization of $441.82 million, a P/E ratio of 30.91 and a beta of 0.73. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.15. The firm’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $5.05.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. The business had revenue of $168.67 million during the quarter, compared to analysts’ expectations of $159.32 million. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. Sell-side analysts forecast that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royce & Associates LP grew its holdings in shares of Pangaea Logistics Solutions by 21.5% in the first quarter. Royce & Associates LP now owns 1,166,677 shares of the shipping company’s stock worth $5,553,000 after purchasing an additional 206,575 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in Pangaea Logistics Solutions during the 2nd quarter valued at $732,000. Nuveen LLC purchased a new stake in Pangaea Logistics Solutions during the 1st quarter valued at $539,000. First Trust Advisors LP bought a new stake in Pangaea Logistics Solutions in the 3rd quarter worth $532,000. Finally, Koss Olinger Consulting LLC grew its holdings in Pangaea Logistics Solutions by 494.5% in the 1st quarter. Koss Olinger Consulting LLC now owns 116,029 shares of the shipping company’s stock worth $552,000 after acquiring an additional 96,513 shares during the last quarter. Institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

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.