Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.36 and traded as high as $7.69. Pangaea Logistics Solutions shares last traded at $7.46, with a volume of 364,097 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PANL shares. Weiss Ratings lowered 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 Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Pangaea Logistics Solutions currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Pangaea Logistics Solutions Trading Down 2.6%

The firm’s fifty day simple moving average is $7.36 and its 200 day simple moving average is $7.67. The stock has a market capitalization of $488.03 million, a P/E ratio of 13.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.63.

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

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 1st. Pangaea Logistics Solutions’s payout ratio is currently 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 1,846.9% in the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after purchasing an additional 416,439 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Pangaea Logistics Solutions by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after buying an additional 351,385 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Pangaea Logistics Solutions by 33.0% during the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after buying an additional 185,100 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Pangaea Logistics Solutions during the 1st quarter worth $933,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Pangaea Logistics Solutions by 44.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 373,734 shares of the shipping company’s stock worth $2,571,000 after buying an additional 115,257 shares during the last quarter. 60.23% of the stock is currently owned by 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.