Pangaea Logistics Solutions Ltd (NASDAQ:PANL) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 4,800 shares, a decrease of 32.4% from the June 30th total of 7,100 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 24,200 shares, the days-to-cover ratio is currently 0.2 days.
PANL has been the topic of a number of recent analyst reports. ValuEngine downgraded Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Noble Financial set a $6.00 price objective on Pangaea Logistics Solutions and gave the company a “buy” rating in a report on Friday, May 17th.
Shares of PANL traded down $0.13 during mid-day trading on Tuesday, reaching $3.32. The company’s stock had a trading volume of 42,360 shares, compared to its average volume of 22,487. Pangaea Logistics Solutions has a 12-month low of $2.78 and a 12-month high of $4.35. The firm has a market capitalization of $147.62 million, a PE ratio of 6.26 and a beta of 0.26. The company has a current ratio of 1.64, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $3.45.
Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Monday, August 12th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). The firm had revenue of $83.29 million during the quarter, compared to analyst estimates of $109.72 million. Pangaea Logistics Solutions had a net margin of 4.59% and a return on equity of 9.66%. During the same period last year, the company earned $0.13 earnings per share. Sell-side analysts forecast that Pangaea Logistics Solutions will post 0.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 4.22%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 26.42%.
An institutional investor recently raised its position in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP boosted its stake in shares of Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 37.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,547 shares of the shipping company’s stock after acquiring an additional 30,352 shares during the quarter. Dimensional Fund Advisors LP owned about 0.25% of Pangaea Logistics Solutions worth $338,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 26.11% of the company’s stock.
Pangaea Logistics Solutions Company Profile
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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