Noble Financial reissued their buy rating on shares of Pangaea Logistics Solutions (NASDAQ:PANL) in a research report report published on Friday morning. The brokerage currently has a $5.50 price objective on the shipping company’s stock.

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Pangaea Logistics Solutions from a sell rating to a strong sell rating in a report on Friday, December 21st. Zacks Investment Research raised Pangaea Logistics Solutions from a strong sell rating to a hold rating in a report on Saturday, January 12th. Finally, TheStreet raised Pangaea Logistics Solutions from a c+ rating to a b- rating in a report on Wednesday, March 20th.

Shares of Pangaea Logistics Solutions stock opened at $3.22 on Friday. Pangaea Logistics Solutions has a 12 month low of $2.35 and a 12 month high of $3.90. The company has a market cap of $143.11 million, a price-to-earnings ratio of 6.07 and a beta of 0.28. The company has a quick ratio of 1.25, a current ratio of 1.44 and a debt-to-equity ratio of 0.60.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Wednesday, March 20th. The shipping company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Pangaea Logistics Solutions had a return on equity of 10.19% and a net margin of 4.76%. The business had revenue of $101.83 million during the quarter, compared to analysts’ expectations of $100.02 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.64 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Price Wealth Management Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $45,000. Dimensional Fund Advisors LP increased its holdings in shares of Pangaea Logistics Solutions by 37.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 111,547 shares of the shipping company’s stock valued at $338,000 after purchasing an additional 30,352 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Pangaea Logistics Solutions in the third quarter valued at approximately $111,000. 27.03% 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. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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