Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.65 and traded as low as $6.50. Pangaea Logistics Solutions shares last traded at $6.52, with a volume of 517,775 shares.

Analysts Set New Price Targets

PANL has been the subject of several research reports. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Pangaea Logistics Solutions has a consensus rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Price Performance

The stock’s fifty day simple moving average is $7.59 and its 200-day simple moving average is $7.64. The stock has a market cap of $431.77 million, a P/E ratio of 12.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.63.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The company had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.78 million. As a group, research analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, June 1st. Pangaea Logistics Solutions’s dividend payout ratio is 36.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. bought a new position in Pangaea Logistics Solutions in the 4th quarter valued at about $53,000. Bank of America Corp DE lifted its holdings in shares of Pangaea Logistics Solutions by 5.6% during the 1st quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company’s stock worth $204,000 after acquiring an additional 1,534 shares during the period. Quantinno Capital Management LP boosted its position in shares of Pangaea Logistics Solutions by 13.2% during the 1st quarter. Quantinno Capital Management LP now owns 86,583 shares of the shipping company’s stock worth $613,000 after acquiring an additional 10,098 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Pangaea Logistics Solutions by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company’s stock valued at $568,000 after acquiring an additional 1,732 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Pangaea Logistics Solutions in the first quarter valued at approximately $933,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.