Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Upgraded by Wall Street Zen

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Other research analysts have also recently issued research reports about the company. Zacks Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. B. Riley decreased their price objective on Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $9.00.

Pangaea Logistics Solutions Trading Down 1.3%

NASDAQ:PANL opened at $6.97 on Monday. The company has a 50-day moving average price of $5.57 and a 200-day moving average price of $5.20. The stock has a market cap of $452.87 million, a price-to-earnings ratio of 31.68 and a beta of 0.73. The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 12 month low of $3.93 and a 12 month high of $7.22.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. The company had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. Equities analysts predict that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors have recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Pangaea Logistics Solutions during the first quarter valued at approximately $539,000. Goldman Sachs Group Inc. boosted its stake in Pangaea Logistics Solutions by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after purchasing an additional 14,357 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of 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 worth $4,802,000 after purchasing an additional 80,872 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Pangaea Logistics Solutions in the 1st quarter worth $132,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of Pangaea Logistics Solutions by 4.0% in the first quarter. Bridgeway Capital Management LLC now owns 678,219 shares of the shipping company’s stock worth $3,228,000 after purchasing an additional 25,851 shares during the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.