Stock analysts at Fearnley Fonds initiated coverage on shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $3.60 price target on the shipping company’s stock. Fearnley Fonds’ target price points to a potential upside of 52.54% from the stock’s previous close.
Separately, Deutsche Bank AG started coverage on shares of Pangaea Logistics Solutions in a research report on Wednesday, August 30th. They set a “buy” rating and a $111.10 price target on the stock.
Pangaea Logistics Solutions (PANL) traded down 1.26% on Tuesday, reaching $2.36. 26,433 shares of the company traded hands. Pangaea Logistics Solutions has a 12 month low of $2.14 and a 12 month high of $4.44. The company has a 50-day moving average price of $2.45 and a 200-day moving average price of $2.88. The company has a market capitalization of $103.36 million, a P/E ratio of 33.71 and a beta of 0.39.
Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, August 14th. The shipping company reported $0.01 EPS for the quarter. Pangaea Logistics Solutions had a net margin of 0.88% and a return on equity of 6.56%. The company had revenue of $91.42 million for the quarter. Equities research analysts expect that Pangaea Logistics Solutions will post ($0.02) EPS for the current year.
A hedge fund recently raised its stake in Pangaea Logistics Solutions stock. RBF Capital LLC lifted its position in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing. Institutional investors own 28.65% of the company’s stock.
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.
Receive News & Ratings for Pangaea Logistics Solutions Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pangaea Logistics Solutions Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.