Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Above 50 Day Moving Average – What’s Next?

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.35 and traded as high as $9.02. Pangaea Logistics Solutions shares last traded at $8.87, with a volume of 721,550 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. Zacks Research lowered Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The stock has a fifty day moving average of $7.35 and a 200-day moving average of $6.07. The firm has a market capitalization of $576.28 million, a P/E ratio of 29.57 and a beta of 0.79. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of 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. LOM Asset Management Ltd bought a new position in Pangaea Logistics Solutions in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its position in shares of Pangaea Logistics Solutions by 110.0% during the 2nd 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 last quarter. Algert Global LLC bought a new stake in shares of Pangaea Logistics Solutions during the 3rd quarter worth approximately $53,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter valued at approximately $63,000. Institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

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.