Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $6.88 and traded as high as $7.03. Pangaea Logistics Solutions shares last traded at $7.01, with a volume of 284,399 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on PANL shares. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Monday, December 1st. Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72. The company’s 50-day simple moving average is $6.90 and its 200-day simple moving average is $5.73. The stock has a market capitalization of $435.33 million, a price-to-earnings ratio of 22.33 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.14. The company had revenue of $168.67 million for the quarter, compared to analysts’ expectations of $159.32 million. Pangaea Logistics Solutions had a net margin of 2.67% and a return on equity of 3.26%. On average, analysts expect that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. Pangaea Logistics Solutions’s payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. bought a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $732,000. First Trust Advisors LP acquired a new position in Pangaea Logistics Solutions in the third quarter valued at $532,000. Dimensional Fund Advisors LP lifted its holdings in Pangaea Logistics Solutions by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,432,754 shares of the shipping company’s stock valued at $12,359,000 after buying an additional 86,281 shares during the period. Jane Street Group LLC boosted its position in Pangaea Logistics Solutions by 231.2% during the second quarter. Jane Street Group LLC now owns 62,799 shares of the shipping company’s stock valued at $295,000 after acquiring an additional 43,838 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter worth about $209,000. 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.