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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 375,908 shares, a drop of 18.0% from the December 15th total of 458,232 shares. Based on an average daily volume of 235,076 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.7% of the company’s shares are short sold. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 235,076 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in Pangaea Logistics Solutions by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Pangaea Logistics Solutions by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,825 shares during the last quarter. Algert Global LLC bought a new stake in Pangaea Logistics Solutions in the 3rd quarter valued at $53,000. Two Sigma Investments LP acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter valued at $63,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Pangaea Logistics Solutions in the second quarter valued at $65,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PANL. Zacks Research lowered Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen raised Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Down 4.4%

PANL opened at $6.70 on Monday. The firm has a market cap of $435.30 million, a price-to-earnings ratio of 22.33 and a beta of 0.79. Pangaea Logistics Solutions has a twelve month low of $3.93 and a twelve month high of $7.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.62. The firm’s 50-day simple moving average is $6.90 and its 200-day simple moving average is $5.73.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. Pangaea Logistics Solutions had a net margin of 2.67% and a return on equity of 3.26%. The business had revenue of $168.67 million during the quarter, compared to analyst estimates of $159.32 million. Equities research analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is 66.67%.

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.