Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a report published on Thursday morning.

Pangaea Logistics Solutions Trading Down 0.6 %

Shares of Pangaea Logistics Solutions stock traded down $0.04 on Thursday, hitting $6.60. 76,457 shares of the company’s stock traded hands, compared to its average volume of 210,946. Pangaea Logistics Solutions has a one year low of $6.00 and a one year high of $9.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.16 and a quick ratio of 1.82. The company has a fifty day moving average of $6.58 and a two-hundred day moving average of $7.10. The company has a market capitalization of $309.54 million, a price-to-earnings ratio of 8.51 and a beta of 0.87.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, sell-side analysts expect that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently modified their holdings of PANL. Allspring Global Investments Holdings LLC raised its stake in shares of Pangaea Logistics Solutions by 14,653.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock worth $242,000 after purchasing an additional 34,436 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Pangaea Logistics Solutions by 55.7% during the first quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company’s stock valued at $417,000 after acquiring an additional 21,417 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Pangaea Logistics Solutions by 8.6% during the first quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company’s stock worth $541,000 after acquiring an additional 6,125 shares during the period. Empowered Funds LLC grew its stake in Pangaea Logistics Solutions by 8.2% in the 1st quarter. Empowered Funds LLC now owns 298,487 shares of the shipping company’s stock valued at $2,080,000 after purchasing an additional 22,565 shares during the period. Finally, SG Americas Securities LLC grew its stake in Pangaea Logistics Solutions by 3.0% in the 1st quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company’s stock valued at $404,000 after purchasing an additional 1,672 shares during the period. 60.23% of the stock is owned by hedge funds and other institutional investors.

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.