Pangaea Logistics Solutions Ltd. (PANL) Earns Buy Rating from Analysts at Fearnley Fonds

Fearnley Fonds started coverage on shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) in a research note issued to investors on Tuesday morning. The brokerage issued a buy rating and a $3.60 target price on the shipping company’s stock.

Separately, Deutsche Bank AG began coverage on shares of Pangaea Logistics Solutions in a research note on Wednesday, August 30th. They issued a buy rating and a $111.10 target price on the stock.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Monday, August 14th. The shipping company reported $0.01 earnings per share for the quarter. The business had revenue of $91.42 million for the quarter. Pangaea Logistics Solutions had a net margin of 0.88% and a return on equity of 6.56%.

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A hedge fund recently raised its stake in Pangaea Logistics Solutions stock. RBF Capital LLC raised its holdings in shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 16.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,179 shares of the shipping company’s stock after acquiring an additional 16,630 shares during the period. RBF Capital LLC owned about 0.33% of Pangaea Logistics Solutions worth $400,000 at the end of the most recent reporting period. 28.65% of the stock is currently owned by hedge funds and other institutional investors.

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.

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