Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.65 and traded as low as $6.50. Pangaea Logistics Solutions shares last traded at $6.52, with a volume of 517,775 shares trading hands.

Wall Street Analyst Weigh In

PANL has been the subject of a number of recent research reports. Weiss Ratings lowered shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research 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 an average price target of $9.00.

Pangaea Logistics Solutions Trading Up 0.3%

The firm has a market cap of $426.54 million, a PE ratio of 11.85 and a beta of 0.80. The firm has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $7.65. 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 issued its quarterly earnings data on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The business had revenue of $170.58 million during the quarter, compared to analyst estimates of $165.78 million. Equities analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.71 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, June 1st. Pangaea Logistics Solutions’s dividend payout ratio is 36.36%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently bought and sold shares of the company. LOM Asset Management Ltd bought a new position in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $34,000. BNP Paribas Financial Markets boosted its position in Pangaea Logistics Solutions by 89.9% in the third 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 during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $53,000. Tower Research Capital LLC TRC grew its position in shares of Pangaea Logistics Solutions by 110.0% during the 2nd 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 period. Finally, Algert Global LLC purchased a new stake in Pangaea Logistics Solutions in the third quarter worth about $53,000. Institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

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.