Investment analysts at Deutsche Bank AG started coverage on shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $111.10 price target on the shipping company’s stock.

Pangaea Logistics Solutions (NASDAQ:PANL) opened at 2.45 on Wednesday. The company’s 50-day moving average is $2.67 and its 200 day moving average is $3.05. Pangaea Logistics Solutions has a 12-month low of $2.30 and a 12-month high of $4.44. The stock has a market capitalization of $107.30 million, a PE ratio of 35.00 and a beta of 0.37.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Monday, August 14th. The shipping company reported $0.01 EPS for the quarter. Pangaea Logistics Solutions had a net margin of 0.88% and a return on equity of 6.56%. The firm had revenue of $91.42 million for the quarter. On average, analysts predict that Pangaea Logistics Solutions will post ($0.02) EPS for the current year.

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A hedge fund recently raised its stake in Pangaea Logistics Solutions stock. RBF Capital LLC increased its position in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 16.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,179 shares of the shipping company’s stock after buying an additional 16,630 shares during the period. RBF Capital LLC owned approximately 0.33% of Pangaea Logistics Solutions worth $400,000 at the end of the most recent quarter. 28.65% of the stock is currently owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.

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