Noble Financial initiated coverage on shares of Pangaea Logistics Solutions (NASDAQ:PANL) in a report released on Tuesday, The Fly reports. The firm set a “buy” rating on the shipping company’s stock.

A number of other research firms also recently issued reports on PANL. TheStreet upgraded shares of Pangaea Logistics Solutions from a “d+” rating to a “c-” rating in a research report on Monday, November 27th. Fearnley Fonds started coverage on shares of Pangaea Logistics Solutions in a research report on Tuesday, October 10th. They issued a “buy” rating and a $3.60 price target on the stock. Finally, Deutsche Bank started coverage on shares of Pangaea Logistics Solutions in a research report on Wednesday, August 30th. They issued a “buy” rating and a $111.10 price target on the stock.

Pangaea Logistics Solutions (PANL) traded up $0.16 during midday trading on Tuesday, reaching $3.96. 40,800 shares of the company’s stock were exchanged, compared to its average volume of 36,240. Pangaea Logistics Solutions has a 12-month low of $2.14 and a 12-month high of $8.40. The company has a quick ratio of 1.08, a current ratio of 1.31 and a debt-to-equity ratio of 0.68. The company has a market cap of $166.42, a P/E ratio of 11.18 and a beta of 0.98.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Thursday, November 9th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Pangaea Logistics Solutions had a net margin of 1.10% and a return on equity of 6.90%. The company had revenue of $107.02 million for the quarter.

In other news, Director Anthony Laura sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $4.50, for a total value of $58,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 86.15% of the company’s stock.

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About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.

The Fly

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