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

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Separately, Alliance Global Partners raised Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 price target for the company in a research note on Monday, May 13th.

Pangaea Logistics Solutions Stock Down 3.5 %

Pangaea Logistics Solutions stock traded down $0.27 during trading hours on Thursday, hitting $7.36. The company had a trading volume of 91,982 shares, compared to its average volume of 250,463. The firm’s fifty day moving average is $7.76 and its 200-day moving average is $7.79. The firm has a market capitalization of $345.20 million, a P/E ratio of 9.68 and a beta of 0.88. Pangaea Logistics Solutions has a fifty-two week low of $5.28 and a fifty-two week high of $9.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.97 and a quick ratio of 1.75.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Thursday, May 9th. The shipping company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The firm had revenue of $104.75 million during the quarter, compared to analysts’ expectations of $117.47 million. During the same quarter last year, the firm earned $0.11 earnings per share. On average, research analysts forecast that Pangaea Logistics Solutions will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several hedge funds have recently bought and sold shares of PANL. Janus Henderson Group PLC bought a new stake in shares of Pangaea Logistics Solutions during the 1st quarter worth about $256,000. Price T Rowe Associates Inc. MD lifted its holdings in Pangaea Logistics Solutions by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock worth $196,000 after purchasing an additional 9,352 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Pangaea Logistics Solutions during the first quarter worth approximately $61,000. Hillsdale Investment Management Inc. acquired a new position in Pangaea Logistics Solutions during the first quarter valued at approximately $114,000. Finally, Vanguard Group Inc. raised its position in shares of Pangaea Logistics Solutions by 2.0% in the first quarter. Vanguard Group Inc. now owns 701,875 shares of the shipping company’s stock valued at $4,892,000 after purchasing an additional 13,542 shares during the period. 60.23% of the stock is owned by institutional investors and hedge funds.

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.