Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Short Interest Update

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

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ PANL opened at $8.48 on Friday. The firm has a market capitalization of $550.95 million, a price-to-earnings ratio of 28.27 and a beta of 0.79. Pangaea Logistics Solutions has a one year low of $3.93 and a one year high of $9.17. The business has a fifty day simple moving average of $7.48 and a 200 day simple moving average of $6.16. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of 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 acquired a new stake in Pangaea Logistics Solutions during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC grew its stake in shares of 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 purchasing an additional 4,825 shares during the period. Algert Global LLC bought a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter valued at approximately $53,000. Finally, Two Sigma Investments LP acquired a new position in shares of Pangaea Logistics Solutions in the 3rd quarter worth approximately $63,000. 60.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PANL shares. 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 reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.00.

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.