Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PANL shares. Weiss Ratings cut shares of 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 shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Pangaea Logistics Solutions Stock Up 1.1%

The business has a fifty day moving average of $7.71 and a 200 day moving average of $7.66. The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market cap of $495.88 million, a P/E ratio of 13.78 and a beta of 0.79.

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

Pangaea Logistics Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.20 annualized dividend and a yield of 2.6%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Pangaea Logistics Solutions by 5.6% during the first quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company’s stock worth $204,000 after purchasing an additional 1,534 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Pangaea Logistics Solutions by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company’s stock valued at $568,000 after purchasing an additional 1,732 shares in the last quarter. Royal Bank of Canada grew its position in shares of Pangaea Logistics Solutions by 13.0% in the 4th quarter. Royal Bank of Canada now owns 18,123 shares of the shipping company’s stock valued at $125,000 after purchasing an additional 2,091 shares during the period. First Trust Advisors LP grew its position in shares of Pangaea Logistics Solutions by 2.1% in the 4th quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock valued at $735,000 after purchasing an additional 2,159 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Pangaea Logistics Solutions by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock valued at $178,000 after purchasing an additional 2,300 shares during the period. Institutional investors own 60.23% of the company’s stock.

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.