Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.71 and traded as low as $7.51. Pangaea Logistics Solutions shares last traded at $7.58, with a volume of 364,863 shares traded.

Analysts Set New Price Targets

PANL has been the topic of several analyst reports. Weiss Ratings downgraded Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Down 4.3%

The firm has a market cap of $455.32 million, a P/E ratio of 12.65 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $7.69 and a 200-day moving average price of $7.66.

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

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.9%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 36.36%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PANL. LOM Asset Management Ltd purchased a new position in Pangaea Logistics Solutions during the fourth quarter valued at approximately $34,000. BNP Paribas Financial Markets boosted its position in Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Pangaea Logistics Solutions during the 4th quarter worth approximately $53,000. Tower Research Capital LLC TRC grew its stake in shares of Pangaea Logistics Solutions by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after purchasing an additional 4,825 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Pangaea Logistics Solutions during the 3rd quarter worth approximately $53,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

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.