Short Interest in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Increases By 47.2%

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 699,417 shares, an increase of 47.2% from the January 15th total of 475,234 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 1,116,621 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 1,116,621 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.3% of the company’s stock are short sold.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in shares of Pangaea Logistics Solutions during the 1st quarter worth approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after acquiring an additional 3,344 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Pangaea Logistics Solutions by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock worth $1,112,000 after acquiring an additional 14,357 shares in the last quarter. Empowered Funds LLC lifted its holdings in Pangaea Logistics Solutions by 7.3% in the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock valued at $1,818,000 after acquiring an additional 25,851 shares during the period. Finally, Creative Planning boosted its position in shares of Pangaea Logistics Solutions by 94.2% during the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock worth $109,000 after purchasing an additional 11,204 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL traded up $0.03 on Monday, reaching $8.48. The company’s stock had a trading volume of 608,005 shares, compared to its average volume of 900,970. The stock has a market capitalization of $550.95 million, a P/E ratio of 28.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The stock’s 50-day moving average is $7.48 and its two-hundred day moving average is $6.18. Pangaea Logistics Solutions has a 52-week low of $3.93 and a 52-week high of $9.17.

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.