Pangaea Logistics Solutions (NASDAQ:PANL) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.93 and traded as high as $7.40. Pangaea Logistics Solutions shares last traded at $7.39, with a volume of 322,569 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 8th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Zacks Research upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average price of $5.93 and a 200 day moving average price of $5.36. The stock has a market cap of $480.13 million, a PE ratio of 24.63 and a beta of 0.78.

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

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.05 per share. The ex-dividend date was Monday, December 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.7%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently bought and sold shares of the stock. PharVision Advisers LLC bought a new stake in Pangaea Logistics Solutions during the 3rd quarter valued at $91,000. Sherbrooke Park Advisers LLC acquired a new stake in Pangaea Logistics Solutions in the third quarter valued at approximately $74,000. Mercer Global Advisors Inc. ADV purchased a new position in Pangaea Logistics Solutions in the third quarter worth $73,000. Algert Global LLC acquired a new position in shares of Pangaea Logistics Solutions during the third quarter worth $53,000. Finally, Alliancebernstein L.P. increased its position in shares of Pangaea Logistics Solutions by 7.0% during the third quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock worth $178,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

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.