Pangaea Logistics Solutions (NASDAQ:PANL) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.52 and traded as low as $6.68. Pangaea Logistics Solutions shares last traded at $6.74, with a volume of 402,469 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on PANL shares. Wall Street Zen upgraded Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings cut Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Up 3.1%

The firm has a 50 day moving average of $7.51 and a two-hundred day moving average of $7.62. The stock has a market capitalization of $454.67 million, a PE ratio of 12.64 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.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, topping 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 company had revenue of $170.58 million for the quarter, compared to the consensus estimate of $165.78 million. Equities research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a yield of 2.9%. Pangaea Logistics Solutions’s payout ratio is presently 36.36%.

Institutional Inflows and Outflows

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