Pangaea Logistics Solutions (NASDAQ:PANL) Shares Pass Above 50 Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.00 and traded as high as $5.40. Pangaea Logistics Solutions shares last traded at $5.38, with a volume of 230,395 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on PANL shares. Wall Street Zen upgraded Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 18th. B. Riley cut their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Pangaea Logistics Solutions presently has an average rating of “Buy” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Up 2.7%

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.15. The business has a 50 day moving average price of $5.00 and a 200 day moving average price of $4.78. The firm has a market capitalization of $350.99 million, a P/E ratio of 24.46 and a beta of 0.77.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $156.69 million for the quarter, compared to analyst estimates of $129.24 million. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%. On average, analysts predict that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.7%. Pangaea Logistics Solutions’s payout ratio is presently 90.91%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of institutional investors have recently added to or reduced their stakes in PANL. JPMorgan Chase & Co. grew its position in Pangaea Logistics Solutions by 21.4% during the fourth quarter. JPMorgan Chase & Co. now owns 155,115 shares of the shipping company’s stock worth $831,000 after buying an additional 27,316 shares in the last quarter. Wells Fargo & Company MN grew its position in Pangaea Logistics Solutions by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company’s stock worth $99,000 after buying an additional 4,007 shares in the last quarter. Barclays PLC grew its position in Pangaea Logistics Solutions by 23.6% during the fourth quarter. Barclays PLC now owns 57,959 shares of the shipping company’s stock worth $311,000 after buying an additional 11,060 shares in the last quarter. Mariner LLC acquired a new stake in Pangaea Logistics Solutions during the fourth quarter worth about $134,000. Finally, Marshall Wace LLP grew its position in Pangaea Logistics Solutions by 125.8% during the fourth quarter. Marshall Wace LLP now owns 89,792 shares of the shipping company’s stock worth $481,000 after buying an additional 50,018 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

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