Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.64 and traded as low as $4.95. Pangaea Logistics Solutions shares last traded at $5.01, with a volume of 82,953 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Pangaea Logistics Solutions Trading Down 2.2 %

The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $5.89 and a 200 day moving average of $6.62. The firm has a market cap of $229.82 million, a PE ratio of 10.43 and a beta of 0.83.

Pangaea Logistics Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 8.16%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Pangaea Logistics Solutions by 21.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 42,165 shares of the shipping company’s stock valued at $330,000 after purchasing an additional 7,494 shares during the period. Principal Financial Group Inc. raised its holdings in Pangaea Logistics Solutions by 6.7% during the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after acquiring an additional 1,514 shares during the period. Victory Capital Management Inc. lifted its position in shares of Pangaea Logistics Solutions by 29.9% during the second quarter. Victory Capital Management Inc. now owns 122,419 shares of the shipping company’s stock worth $959,000 after acquiring an additional 28,163 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 9.8% in the second quarter. Acadian Asset Management LLC now owns 343,001 shares of the shipping company’s stock worth $2,682,000 after acquiring an additional 30,689 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Pangaea Logistics Solutions by 14.1% in the second quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after purchasing an additional 89,570 shares in the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

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. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.