Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.21 and traded as high as $7.15. Pangaea Logistics Solutions shares last traded at $7.01, with a volume of 197,825 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PANL. Wall Street Zen raised Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Monday, December 1st. Zacks Research raised Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Pangaea Logistics Solutions currently has an average rating of “Buy” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Down 1.8%

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The firm’s 50 day moving average price is $6.21 and its two-hundred day moving average price is $5.47. The firm has a market cap of $455.44 million, a price-to-earnings ratio of 23.37 and a beta of 0.78.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%.The firm had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. As a group, sell-side analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share 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. Stockholders of record on Monday, December 1st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 2.9%. Pangaea Logistics Solutions’s payout ratio is 66.67%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of PANL. Nuveen LLC acquired a new stake in Pangaea Logistics Solutions in the first quarter valued at $539,000. Goldman Sachs Group Inc. boosted its position in shares of Pangaea Logistics Solutions by 6.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock worth $1,112,000 after buying an additional 14,357 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Pangaea Logistics Solutions in the 2nd quarter valued at about $732,000. American Century Companies Inc. raised its stake in Pangaea Logistics Solutions by 8.7% in the 1st quarter. American Century Companies Inc. now owns 1,008,916 shares of the shipping company’s stock valued at $4,802,000 after purchasing an additional 80,872 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Pangaea Logistics Solutions in the 1st quarter valued at about $132,000. 60.23% of the stock is 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.