Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.16 and traded as low as $5.26. Pangaea Logistics Solutions shares last traded at $5.30, with a volume of 179,521 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Pangaea Logistics Solutions Trading Down 1.9 %

The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $5.36 and a two-hundred day moving average of $6.14. The firm has a market capitalization of $337.79 million, a P/E ratio of 11.06 and a beta of 0.84.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 7.69%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Institutional Trading of Pangaea Logistics Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Pangaea Logistics Solutions by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company’s stock worth $494,000 after acquiring an additional 2,916 shares during the period. Empowered Funds LLC grew its stake in Pangaea Logistics Solutions by 5.1% during the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock worth $1,909,000 after purchasing an additional 17,389 shares during the period. Hudson Valley Investment Advisors Inc. ADV bought a new stake in Pangaea Logistics Solutions in the fourth quarter worth approximately $123,000. Barclays PLC lifted its stake in Pangaea Logistics Solutions by 271.4% in the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after buying an additional 34,273 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock worth $6,059,000 after buying an additional 60,841 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Company Profile

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.