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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price passed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PANL. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research 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 research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Pangaea Logistics Solutions presently has an average rating of “Hold” and a consensus target price of $9.00.

Pangaea Logistics Solutions Stock Down 1.9%

The company has a market cap of $484.11 million, a price-to-earnings ratio of 13.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.63. The stock’s fifty day moving average is $7.35 and its two-hundred day moving average is $7.67.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.78 million. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%. Sell-side analysts predict that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.20 annualized dividend and a dividend yield of 2.7%. Pangaea Logistics Solutions’s payout ratio is presently 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in Pangaea Logistics Solutions by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 2,864 shares in the last quarter. LOM Asset Management Ltd bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter worth $34,000. Tower Research Capital LLC TRC raised its holdings in shares of Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 4,825 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at about $53,000. Finally, Algert Global LLC bought a new position in shares of Pangaea Logistics Solutions during the third quarter valued at about $53,000. Institutional investors 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.