Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Buy at Wall Street Zen

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Other analysts have also recently issued research reports about the company. Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. B. Riley Financial reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Price Performance

PANL stock opened at $6.79 on Friday. The stock has a market capitalization of $443.52 million, a price-to-earnings ratio of 21.90 and a beta of 0.77. The company has a quick ratio of 1.35, a current ratio of 1.69 and a debt-to-equity ratio of 0.69. Pangaea Logistics Solutions has a 52-week low of $3.93 and a 52-week high of $9.39. The stock’s fifty day simple moving average is $8.13 and its 200-day simple moving average is $6.74.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its earnings results on Tuesday, March 10th. The shipping company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%. The business had revenue of $183.88 million during the quarter, compared to analyst estimates of $181.75 million. Equities research analysts expect that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Large investors have recently modified their holdings of the company. LOM Asset Management Ltd acquired a new position in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $34,000. BNP Paribas Financial Markets increased its position 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 worth $31,000 after purchasing an additional 2,864 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in Pangaea Logistics Solutions in the fourth quarter valued at approximately $53,000. Tower Research Capital LLC TRC lifted its position in 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 buying an additional 4,825 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Pangaea Logistics Solutions during the third quarter valued at 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.