Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Short Interest Up 58.3% in August

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 7,600 shares, a growth of 58.3% from the July 31st total of 4,800 shares. Based on an average daily trading volume, of 23,100 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Pangaea Logistics Solutions by 132.5% in the 2nd quarter. BlackRock Inc. now owns 56,094 shares of the shipping company’s stock worth $188,000 after purchasing an additional 31,969 shares during the last quarter. WealthTrust Axiom LLC increased its position in shares of Pangaea Logistics Solutions by 57.1% in the 2nd quarter. WealthTrust Axiom LLC now owns 22,000 shares of the shipping company’s stock worth $73,000 after purchasing an additional 8,000 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of Pangaea Logistics Solutions by 36.4% in the 2nd quarter. Susquehanna International Group LLP now owns 19,327 shares of the shipping company’s stock worth $65,000 after purchasing an additional 5,153 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter worth about $35,000. 26.17% of the stock is owned by institutional investors.

A number of equities analysts have commented on the stock. ValuEngine lowered shares of Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Noble Financial set a $6.00 price objective on shares of Pangaea Logistics Solutions and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Zacks Investment Research lowered shares of Pangaea Logistics Solutions from a “hold” rating to a “sell” rating in a report on Tuesday.

PANL stock remained flat at $$3.25 during trading on Thursday. 3,516 shares of the company’s stock were exchanged, compared to its average volume of 21,640. Pangaea Logistics Solutions has a 52-week low of $2.71 and a 52-week high of $4.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.17. The firm has a market capitalization of $144.47 million, a P/E ratio of 6.13 and a beta of 0.29. The company has a fifty day moving average of $3.26 and a two-hundred day moving average of $3.37.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Monday, August 12th. The shipping company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). Pangaea Logistics Solutions had a return on equity of 8.39% and a net margin of 4.28%. The firm had revenue of $83.29 million during the quarter, compared to analyst estimates of $109.72 million. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, research analysts expect that Pangaea Logistics Solutions will post 0.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Friday, August 23rd. Pangaea Logistics Solutions’s payout ratio is currently 26.42%.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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