StockNews.com Upgrades Pangaea Logistics Solutions (NASDAQ:PANL) to “Buy”

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Separately, Alliance Global Partners cut Pangaea Logistics Solutions from a “buy” rating to a “neutral” rating and set a $8.75 price target for the company. in a research note on Monday, February 5th.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL traded up $0.22 during trading on Tuesday, reaching $6.97. 390,687 shares of the stock were exchanged, compared to its average volume of 340,868. Pangaea Logistics Solutions has a 12 month low of $5.06 and a 12 month high of $9.52. The firm has a market cap of $325.64 million, a PE ratio of 11.81 and a beta of 0.86. The stock has a 50-day moving average price of $8.40 and a 200-day moving average price of $7.23. The company has a current ratio of 1.82, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Wednesday, March 13th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.28). Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. The firm had revenue of $131.88 million for the quarter, compared to the consensus estimate of $152.31 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Research analysts expect that Pangaea Logistics Solutions will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PANL. BlackRock Inc. increased its holdings in shares of Pangaea Logistics Solutions by 707.9% during the second quarter. BlackRock Inc. now owns 2,120,782 shares of the shipping company’s stock worth $14,358,000 after buying an additional 1,858,287 shares in the last quarter. Cable Car Capital LLC acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $7,299,000. State Street Corp increased its holdings in Pangaea Logistics Solutions by 276.2% in the second quarter. State Street Corp now owns 506,410 shares of the shipping company’s stock valued at $3,428,000 after purchasing an additional 371,790 shares during the period. Geode Capital Management LLC increased its holdings in Pangaea Logistics Solutions by 92.0% in the second quarter. Geode Capital Management LLC now owns 711,450 shares of the shipping company’s stock valued at $4,817,000 after purchasing an additional 340,906 shares during the period. Finally, Northern Trust Corp increased its holdings in Pangaea Logistics Solutions by 372.6% in the second quarter. Northern Trust Corp now owns 287,036 shares of the shipping company’s stock valued at $1,943,000 after purchasing an additional 226,302 shares during the period. 51.31% of the stock is currently owned by institutional investors and hedge funds.

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, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.