Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded by Wall Street Zen to “Hold”

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

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

Pangaea Logistics Solutions Stock Down 2.8%

PANL stock opened at $6.83 on Friday. The firm has a market cap of $443.75 million, a price-to-earnings ratio of 22.03 and a beta of 0.77. Pangaea Logistics Solutions has a 1-year low of $3.93 and a 1-year high of $9.39. The firm has a fifty day moving average price of $8.12 and a two-hundred day moving average price of $6.67. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Tuesday, March 10th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Pangaea Logistics Solutions had a return on equity of 3.82% and a net margin of 3.06%.The business had revenue of $183.88 million during the quarter, compared to the consensus estimate of $181.75 million. Research analysts predict that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its position in Pangaea Logistics Solutions by 1,846.9% in the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock worth $3,020,000 after purchasing an additional 416,439 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in shares of Pangaea Logistics Solutions during the second quarter valued at approximately $732,000. Goldman Sachs Group Inc. raised its holdings in shares of Pangaea Logistics Solutions by 44.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 373,734 shares of the shipping company’s stock valued at $2,571,000 after buying an additional 115,257 shares during the last quarter. Numerai GP LLC acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth approximately $751,000. Finally, First Trust Advisors LP acquired a new position in shares of Pangaea Logistics Solutions during the third quarter worth approximately $532,000. 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.