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Canaccord Genuity assumed coverage on shares of Paragon Shipping (NASDAQ:PRGN) in a research note issued on Tuesday. The firm set a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity’s target price points to a potential upside of 111.64% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at MLV & Co
initiated coverage on shares of Paragon Shipping in a research note on Wednesday, May 28th. They set a “hold” rating on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Paragon Shipping in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $10.43.

Paragon Shipping (NASDAQ:PRGN) traded down 0.18% on Tuesday, hitting $5.67. The stock had a trading volume of 174,510 shares. Paragon Shipping has a 1-year low of $3.75 and a 1-year high of $9.40. The stock has a 50-day moving average of $5.64 and a 200-day moving average of $6.41. The company’s market cap is $116.6 million.

Paragon Shipping (NASDAQ:PRGN) last issued its quarterly earnings data on Monday, May 19th. The company reported ($0.26) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.10) by $0.16. The company had revenue of $13.45 million for the quarter, compared to the consensus estimate of $13.90 million. During the same quarter last year, the company posted ($0.28) earnings per share. On average, analysts predict that Paragon Shipping will post $-0.39 earnings per share for the current fiscal year.

Paragon Shipping Inc is a holding Company. The Company is a global provider of shipping transportation services.

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