Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.71 and traded as low as $7.51. Pangaea Logistics Solutions shares last traded at $7.58, with a volume of 364,863 shares changing hands.

Analyst Ratings Changes

PANL has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Up 1.1%

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.37. The company has a market capitalization of $495.88 million, a price-to-earnings ratio of 13.78 and a beta of 0.79. The firm has a 50-day moving average price of $7.71 and a two-hundred day moving average price of $7.66.

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

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, June 1st. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 36.36%.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. LOM Asset Management Ltd acquired a new position in Pangaea Logistics Solutions during the fourth quarter worth $34,000. BNP Paribas Financial Markets grew its position in Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 2,864 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Pangaea Logistics Solutions in the 4th quarter valued at $53,000. Tower Research Capital LLC TRC increased its stake in Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after buying an additional 4,825 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Pangaea Logistics Solutions during the 3rd quarter worth about $53,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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.