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

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.36 and traded as high as $7.69. Pangaea Logistics Solutions shares last traded at $7.46, with a volume of 364,097 shares.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Trading Down 2.6%

The business has a fifty day moving average price of $7.36 and a 200-day moving average price of $7.67. 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 company has a market cap of $488.03 million, a P/E ratio of 13.56 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.78 million. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 1st. This represents a $0.20 annualized dividend and a yield of 2.7%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Pangaea Logistics Solutions by 13.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after acquiring an additional 351,385 shares in the last quarter. Cable Car Capital LP boosted its holdings in Pangaea Logistics Solutions by 2.1% in the 2nd quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock valued at $4,632,000 after purchasing an additional 20,000 shares during the period. Renaissance Technologies LLC grew its position in shares of Pangaea Logistics Solutions by 33.0% during the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after purchasing an additional 185,100 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Pangaea Logistics Solutions by 4.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock worth $3,325,000 after purchasing an additional 29,260 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Pangaea Logistics Solutions by 1,846.9% during the fourth 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 period. Institutional investors and hedge funds 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.